An oral business deal struck over financial seminars without a written contract has resulted in a $119,779 (£92,000) court judgment upheld by the Court of Appeals of Indiana. In an opinion issued on October 15, a three-judge appellate panel affirmed a trial court ruling requiring Stephen Dissette to pay damages to his former business partner, Brandon Rudd, following a dispute over split commissions generated from retirement education events. The case, Stephen Dissette v. Brandon Rudd, stemmed from an informal arrangement established in 2019. The two financial professionals agreed to co-host and present educational seminars aimed at individuals planning for retirement, with an understanding that commissions and revenues earned from client referrals would be divided between them.
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