Updated: Aug 20, 2021

An agreement between two or more persons which is legally enforceable provided certain conditions are observed. It normally takes the form of one person’s promise to do something in consideration of the other’s agreeing to do or suffer something else in return.

Reference: The Penguin Business Dictionary, 3rd edt.

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James Knight
Editor of Education
James is a lead content editor for Invezz. He's an avid trader and golfer, who spends an inordinate amount of time watching Leicester City and the… read more.