Agreement

In the context of legality, an agreement refers to a mutual understanding or arrangement between two or more parties that is intended to be legally binding. This means that the parties involved have reached a consensus on certain terms and conditions, and they intend for their promises to be enforceable by law. For an agreement to be valid, it typically requires an offer, acceptance, consideration (something of value exchanged), and the capacity to contract. If all these elements are present, the agreement can be upheld in a court of law if one party fails to meet their obligations.