Legal Agreement Between Two Parties Definition

A legal agreement between two parties is a contract that establishes the terms of a binding agreement between them. This type of agreement can be used for a variety of different purposes, such as setting out the terms of a business deal, outlining the rules of a joint venture, or establishing the conditions of employment. A well-drafted legal agreement will clearly spell out the rights and responsibilities of each party, as well as any consequences that may result from breaching the contract.