Legal Binding Definition

A legal binding is a contract between two or more parties that creates an obligation to do, or not do, certain things. This type of agreement is usually written down and signed by the parties involved. It can also be verbal, if both sides agree to its terms. The purpose of a legal binding is to enforce the promises made by one party to another. If one party breaks the agreement, the other party can take them to court to get damages or have the agreement enforced.