An agreement paper, also called a letter of agreement, is a document written in plain language that outlines the terms of an agreement. Agreement paperwork can serve as a legally binding contract if it contains all of the necessary elements. To be considered a valid contract, the agreement paper must contain an offer, consideration, acceptance and mutuality.
Additionally, the agreement paperwork should have the contact information of the parties involved, specify the state whose laws govern the contract, deal with the provisions for terminating the contract and specify how disputes will be handled.
Contract Law Basics
Written or Oral Contracts
Letter of Agreement Format
Letter of Agreement Format Example
Laura Chapman holds a Bachelor of Science in accounting and has worked in accounting, bookkeeping and taxation positions since 2012. She has written content for online publication since 2007, with earlier works focusing more in education, craft/hobby, parenting, pets, and cooking. Now she focuses on careers, personal financial matters, small business concerns, accounting and taxation. Laura has worked in a wide variety of industries throughout her working life, including retail sales, logistics, merchandising, food service quick-serve and casual dining, janitorial, and more. This experience has given her a great deal of insight to pull from when writing about business topics.