term:

Agreement

agreement n

1 a : the act or fact of agreeing [by mutual ]
b : unity of opinion, understanding, or intent
;esp
: the mutual assent of contracting parties to the same terms [if they reach ] NOTE: Under common law, agreement is a necessary element of a valid contract. Under Uniform Commercial Code section 1-201(3), agreement is the bargain of the contracting parties as represented explicitly by their language or implicitly by other circumstances (as a course of dealings).
2 a : an expression (as a settlement, covenant, or contract) of the intent or willingness of two or more parties to bind at least one to terms usually determined by negotiation [an must be sufficiently definite before a court can enforce it "J. D. Calamari and J. M. Perillo"]
b : the language or instrument embodying such an expression [signed the ]

Source: Merriam-Webster's Dictionary of Law ©1996. Merriam-Webster, Incorporated. Published under license with Merriam-Webster, Incorporated.