Definition of a Gentlemen's Agreement
A gentlemen's agreement is an informal agreement between two parties.
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Function
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A gentlemen's agreement may be spoken or written, or can be understood as part of an unspoken agreement.
Features
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A gentlemen's agreement relies on the honor of both parties to fulfill the agreement.
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Significance
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A gentlemen's agreement is largely unenforceable because it is an informal agreement.
Considerations
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Parties to a gentlemen's agreement may honor them because of mutual benefits or a feeling of moral obligation.
Fun Fact
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The term "gentlemen's agreement" was first recorded as part of the Railway Accounting Officers' report in 1888.
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References
Resources
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