Warning

Info

Warning

Info

Warning

Info

LSDefine

Simple English definitions for legal terms

binding agreement

Read a random definition: motion to compel discovery

A quick definition of binding agreement:

A binding agreement is when two or more people agree on something and promise to do what they said they would do. It can be about things that happened in the past or things that will happen in the future. It's like making a promise to someone and keeping that promise. Sometimes, there are rules that need to be followed to make the agreement official and enforceable.

A more thorough explanation:

A binding agreement is a mutual understanding between two or more people about their rights and duties regarding past or future performances. It is a manifestation of mutual assent by two or more persons. The parties' actual bargain is found in their language or by implication from other circumstances, including course of dealing, usage of trade, and course of performance.

Examples of binding agreements include:

  • An agreement of sale that obligates someone to sell and may include a corresponding obligation for someone else to buy.
  • A trust agreement that outlines the terms and conditions of a trust.
  • A postnuptial agreement that outlines the division of assets in case of a divorce.

These examples illustrate how a binding agreement is a legally enforceable contract that outlines the terms and conditions of a mutual understanding between two or more parties. It is important to have a binding agreement to ensure that all parties involved understand their rights and obligations and to avoid any misunderstandings or disputes in the future.

bind | binding arbitration

Warning

Info

General

General chat about the legal profession.
main_chatroom
👍 Chat vibe: 0 👎
Help us make LSD better!
Tell us what's important to you
THATS SO FUNNY
i cant i would go crazy
JumpySubsequentDolphin
20:50
i need to know who decided to do that.
JumpySubsequentDolphin
20:50
omg im on a plane weeeee
the devil
youre on a plane??? LSD made the mile high club??
20:50
yo splitterus are you in school already
20:50
it says ur c/o 2027
JumpySubsequentDolphin
20:51
@SplitterusClitterus: HAHAH yes
ur user is hilarioussss and no i just graduated this may and am now applying ---also im out of messages so ill take a lil
20:52
roger dat. see u in heck
im back, r u applying this cycle too
JumpySubsequentDolphin
21:32
this child fell asleep on me
JumpySubsequentDolphin
21:32
im so uncomfortable
just push him off the entire seat
JumpySubsequentDolphin
21:34
LMAOOOO
JumpySubsequentDolphin
21:35
no he’s literally like 8 and he fully just put his head on my bicep and slept
JumpySubsequentDolphin
21:35
he has since moved
22:12
@SplitterusClitterus: me yesterday
gulc baby pls text me back... i miss you ...... :(
22:23
i just went into a discord vc and yelled "YALL I JUST GOT INTO J.M. SCHOOL OF LAW"
22:24
people were getting excited :sob:
22:25
then someone was like "what does jm stand for" and i was like .. well
AHHAHAHAHAHAHHAHAHAHAHAHAH
@JumpySubsequentDolphin: wait this is so cute, also where r u going
JOE MBIDEN
JumpySubsequentDolphin
22:39
@splitty Oregon!
oh yay for what thats so random
JumpySubsequentDolphin
22:45
haha my brother and sister in law live there
so cutie oregon is beatiful
LSD+ is ad-free, with DMs, discounts, case briefs & more.