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Agreed Between Two Parties

oboloo Glossary

Agreed Between Two Parties

Agreed Between Two Parties Definition

In business, an agreement between two parties is a legally binding contract. It is an understanding between two people or businesses in which both parties agree to do something, or not do something. An agreement can be verbal or written, but it must be clear that both parties understand and agree to the terms of the agreement. If one party does not hold up their end of the agreement, the other party can take legal action to enforce the agreement.

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