Agreement

An Agreement is an understanding between agents to follow a specific course of conduct.

Context:
- It can range from a Verbal Agreement to a Written Agreement (legal agreement document).
- It can range from being a Agreement between Individuals, Agreement between Organizations, or a combination of both.
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Example(s):
- a Legal Agreement, such as: a contract, treaty.
- A Handshake Agreement, often informal and based on trust, such as a verbal promise to repay a loan.
- A Casual Promise, a non-binding agreement based on goodwill, such as a friendly agreement to meet for coffee.
- An Inter-Organizational Commitment, where multiple organizations agree on a specific course of conduct, such as a collaboration agreement.
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Counter-Example(s):
- a Personal Promise that does not involve an exchange or is not legally enforceable.
- a Unilateral Decision, as it only involves one party.
- an Organizational Decision.
See: Contract Law, Treaty, Verbal Agreement, Written Agreement, Offer, Acceptance, Consideration.

References

http://en.wiktionary.org/wiki/agreement#Noun
- An understanding between entities to follow a specific course of conduct.