Mutual Agreement
/ˈmjuːtʃuəl əˈɡriːmənt/
Definitions
- (n.) A legally binding understanding between two or more parties outlining agreed terms and obligations.
The parties entered into a mutual agreement to settle the dispute out of court.
- (n.) A condition precedent where all parties express consent to the terms, forming the basis for a valid contract.
Mutual agreement is essential for contract formation to ensure all parties are aligned.
Related terms
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Commentary
Mutual agreement emphasizes reciprocal assent and is foundational in contract law, distinguishing consensual arrangements from unilateral promises.
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.