The concept of Agreement
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An agreement can be defined as aspect that arises when an offer made by one party is accepted by the other, According to the Law an agreement is defined as A meeting of minds with the understanding and acceptance of reciprocal legal rights and duties as to particular actions or obligations, which the parties intend to exchange. Agreements are of different kinds such as; binding agreements - The term binding agreement denotes an agreement that is legally binding and cannot be broken or violated by either party. Breaking a binding agreement is prosecutable in a court of law.
Collective bargaining agreements – collective bargaining agreements are agreements made between the employees to get together in order to request rights from the employer.
Partnership agreements – partnership agreement is a voluntary contract between two or among more than two persons to place their capital, labour, and skills, and corporation in business with the understanding that there will be a sharing of the profits and losses between/among partners.