Binding Agreement Between Two Parties

A binding agreement, or contract, between two parties is an enforceable document that creates a legal obligation and outlines mutual rights and responsibilities. It describes the duties each party must fulfill, including any promises they make to each other as part of the agreement. By signing the agreement, both parties agree to abide by the conditions set out in the document, making it legally binding. This type of contract can be used for business transactions or any contractual relationship between two parties. It should be noted that contracts come with risks and should be thoroughly reviewed before entering into one.