Definition of Agreement

A concord of understanding and intention, between two or more parties, with respect to the effect upon their relative rights and duties, of certain past or future facts or performances. The act of two or more persons, who unite in expressing a mutual and common purpose, with the view of altering their rights and obligations. A coming together of parties in opinion or determination; the union of two or more minds in a thing done or to be done; a mutual assent to do a thing. Com. Dig. "Agreement," A 1. The consent of two or more persons concurring, the one in parting with, the other in receiving, some property, right, or benefit. Bac. Abr. A promise, or undertaking. This is a loose and incorrect sense of the word. Wain v. Warlters, 5 East, 11. The writing or instrument which is evidence of an .agreement. Classification. Agreements are of the following several descriptions, viz.: Conditional agreements, the operation and effect of which depend upon the existenco of a supposed state of facte, or the performance of a condition, or the happening of a contingency. Executed agreements, which have reference to past events, or which are at once closed and where nothing further remains to be done by the parties. Executory agreements are such as are to be performed in the future. They are commonly preliminary to other more formal or important contracts or deeds, and are usually evidenced by memoranda, parol promises, etc. Express agreements are those in which the terms and stipulations are specifically declared and avowed by the parties at the time of making the agreement. Implied agreement. One inferred from the acts or conduct of the parties, instead of being expressed by them in written or spoken words; one inferred by the law where the conduct of the parties with reference to the subject-matter is such as to induce the belief that they intended to do that which their acts indicate they have done. Bixby v. Moor, 51 N. II. 407; Cuneo v. De Chneo, 24 Tex. Cfiv. App. 436, 59 S. W. 284. Parol agreements. Such as are either by word of mouth or are committed to writing, but are not under seal. The common law draws only one grcat line, between things under seal and not under seal. Wharton. Synonyms distinguished. The term "agreement" is often used as synonymous with "contract" Properly speaking, however, it is a wider term than "contract" (Anson, Cont. 4.) An agreement might not be a contract, because not fulfilling some requirement of the law of the place in which it is made. So, where a contract embodies a series of mutual stipulations or constituent clauses, each of these clauses might be denominated an "agreement." "Agreement" is seldom applied to specialties; "contract" is generally confined to simple contracts; and "promise" refers to the engagement of a party without reference to the reasons or considerations for it, or the duties of other parties. Pars. Cont. 6. "Agreement" is more comprehensive than "promise;" signifies a mutual contract, on consideration, between two or more parties. A statute (of frauds) which requires the agreement to be in writing includes the consideration. Wain v. Warlters, 5 East, 10. "Agreement" is not synonymous with "promise" or "undertaking," but, in its more, proper and correct sense, signifies a mutual contract, on consideration, between two or more parties, and implies a consideration. Andrews v. Pontue, 24 Wend. (N. Y.) 285.