Binding Agreement
/ˈbaɪndɪŋ əˈɡriːmənt/
Definitions
- (n.) A legally enforceable contract obligating the parties to perform specified duties.
The parties entered into a binding agreement to finalize the sale of the property.
Forms
- binding agreements
Related terms
See also
Commentary
Often used interchangeably with 'enforceable contract'; emphasis is on the legal obligation to adhere to the terms.
This glossary is for general informational and educational purposes only. Definitions are jurisdiction-agnostic but reflect terminology and concepts primarily drawn from English and American legal traditions. Nothing herein constitutes legal advice or creates a lawyer-client relationship. Users should consult qualified counsel for advice on specific matters or jurisdictions.