Definition of Agreement Oxford English Dictionary
The Oxford English Dictionary (OED) defines agreement as “harmony or conformity in opinion or feeling; the being of one mind; unity or concord.” In legal terms, an agreement is a “mutual understanding between two or more parties about their respective rights and obligations.”
An agreement can take many forms, including written contracts, verbal understandings, or even implied agreements based on a course of conduct. The terms and conditions of an agreement are typically outlined in a document that is signed by all parties involved.
The OED also notes that agreement can refer to “a contract or arrangement by which two or more parties undertake to do or not to do something; a covenant, compact, or bargain.”
In legal contexts, agreements can be binding and enforceable by law. To be legally binding, an agreement must meet certain requirements, such as having a clear offer and acceptance, consideration, and an intention to create legal relations.
It’s important to note that not all agreements are created equal. Some agreements may be more formal and legally binding, while others may be more informal and based on trust and goodwill. Regardless of the form it takes, an agreement should always be clear and unambiguous to avoid any misunderstandings or disputes down the line.
In conclusion, the definition of agreement according to the Oxford English Dictionary encompasses both the concept of unity and harmony in opinion or feeling as well as a legal contract or arrangement between parties. It is important for all parties involved in an agreement to clearly understand the terms and conditions involved in order to ensure a successful outcome.