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.
