Gentlemen's Agreements Sample Clauses
A Gentlemen's Agreement clause defines an understanding between parties that is based on honor and trust rather than being legally enforceable. In practice, such agreements are often informal and may be used to outline mutual expectations or cooperative behavior without creating binding obligations. The core function of this clause is to facilitate collaboration or goodwill between parties while explicitly acknowledging that the arrangement is not intended to be legally binding, thereby avoiding legal disputes over informal commitments.
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Gentlemen's Agreements. If a business transaction or practice violates the antitrust laws, the form of the "agreement" which results in the violation is immaterial. Oral undertakings, handshakes, "side letters", "gentlemen's agreements", and other kinds of conduct from which agreements may be implied, regardless of the name they go by, are still violations.