{"id":8153,"date":"2017-11-18T02:14:48","date_gmt":"2017-11-18T02:14:48","guid":{"rendered":"https:\/\/reunitethestates.org\/?page_id=8153"},"modified":"2023-04-21T21:49:45","modified_gmt":"2023-04-21T21:49:45","slug":"agreement-unwritten-mutual-understanding","status":"publish","type":"page","link":"https:\/\/reunitethestates.org\/?page_id=8153","title":{"rendered":"Contracts, Agreements, and Legal Instruments:"},"content":{"rendered":"

\u00a0 \u00a0 \u00a0This section contains definitions pertaining to both written and unwritten agreements, including but not limited various types of <\/span>legal instruments<\/a>\u00a0such as\u00a0<\/span>contracts<\/a>,\u00a0<\/span>charging instruments<\/a>,\u00a0deeds<\/a>,\u00a0<\/span>and\u00a0<\/span>securities<\/a>\u00a0such as\u00a0<\/span>bonds<\/a>,\u00a0liens<\/a>, <\/span>mortgages<\/a>.\u00a0 This section also contains that which arises from various types of agreements such as<\/span> obligations<\/a> <\/span>and\u00a0fiduciary relationships<\/a>.<\/span><\/strong><\/span><\/p>\n

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agreement<\/span>:<\/span><\/strong><\/span>
\n(15C)<\/span><\/span><\/p>\n

1. A mutual understanding between two or more persons about their relative rights and duties regarding past or future performances; a manifestation of mutual assent by two or more persons.<\/span><\/strong><\/span><\/p>\n

2. The parties\u2019 actual bargain as found in their language or by implication from other circumstances, including course of dealing, usage of trade, and course of performance. UCC <\/span>\u00a7 1-201(b)(3). <\/span><\/strong>[1]<\/span><\/span><\/p>\n

1. The union of two or more minds in a thing done or to be done; a coming together of parties in opinion or determination; the union of two or more minds in a thing done or to be done.\u00a0<\/span> Woodworth v State<\/em>, 20 Tex App 375, 380<\/span>.<\/span><\/strong><\/p>\n

A contract where made upon a sufficient consideration to do, or refrain from doing, a particular lawful thing.<\/span>\u00a0 17 Am J2d Contr \u00a7 1<\/span>.<\/span><\/span><\/strong><\/p>\n

The legal import of the word includes not only a promise, but also the consideration for which the promise was made.\u00a0<\/span> Hunt v Adams<\/em>, 5 Mass 358<\/span>.<\/span><\/span><\/strong>
\n\u00a0\u00a0\u00a0\u00a0\u00a0 See articles of agreement<\/em>; compact<\/em>; contract<\/em>. [2]<\/span><\/p>\n

1. A contract.<\/span><\/span><\/strong><\/p>\n

2. A concurrence of intention; mutual assent.<\/span><\/strong><\/span>
\n\u00a0\u00a0\u00a0\u00a0 See meeting of the minds<\/em>.<\/span><\/p>\n

3. A coming together of parties with respect to a matter of opinion.<\/span><\/strong><\/span>
\n\u00a0\u00a0\u00a0\u00a0 See articles of agreement<\/em>; collective bargaining agreement<\/em>; hold harmless agreement<\/em>; martial agreement<\/em>; partnership agreement<\/em>. [3]<\/span><\/p>\n

\u00a0\u00a0\u00a0<\/span>\u00a0 Excerpt from<\/span> Stephen\u2019s Commentaries on the Laws of England<\/a> (L. Crispin Warmington ed., 21st ed. 1950):<\/span><\/strong><\/span><\/p>\n

\u00a0\u00a0\u00a0\u00a0 \u201c<\/span>The term \u2018agreement,\u2019 although frequently used as synonymous with the word \u2018contract,\u2019 is really an expression of greater breadth of meaning and less technicality.\u00a0 Every contract is an agreement; but not every agreement is a contract. In its colloquial sense, the term \u2018agreement’ would include any arrangement between two or more persons intended to affect their relations (whether legal or otherwise) to each other.\u00a0 An accepted invitation to dinner, for example, would be an agreement in this sense; but it would not be a contract, because it would neither be intended to create, nor would it in fact create, any legal obligation between the parties to it. Further, even an agreement which is intended to affect the legal relations of the parties does not necessarily amount to a contract in the strict sense of the term. For instance, a conveyance of land or a gift of a chattel, though involving an agreement, is . . . not a contract; because its primary legal operation is to effect a transfer of property, and not to create an obligation.<\/span>\u201d<\/span><\/strong> [4]<\/span><\/span><\/p>\n

\u00a0\u00a0\u00a0\u00a0 Excerpt from 1 Samuel Williston,<\/span> A Treatise on the Law of Contracts<\/em><\/a> \u00a7 2, at 6 (Walter H.E. Jaeger ed., 3d ed. 1957):<\/span><\/span><\/strong><\/p>\n

\u00a0\u00a0\u00a0\u00a0 \u201c<\/span>An agreement, as the courts have said, \u2018is nothing more than a manifestation of mutual assent\u2019, by two or more parties legally competent persons to one another. Agreement is in some respects a broader term than contract, or even than bargain or promise. It covers executed sales, gifts, and other transfers of property.<\/span>\u201d<\/strong> [5]<\/span><\/p>\n

Related Terms:<\/span><\/strong><\/p>\n

legal instruments<\/span><\/a> – formal documents evidencing the granting of right(s) and\/or an agreement (duties, entitlements, and liabilities).<\/span><\/strong><\/p>\n