agreement

Definition from Nolo’s Plain-English Law Dictionary

A meeting of the minds. An agreement is made when two people reach an understanding about a particular issue, including their obligations, duties, and rights. While agreement is sometimes used to mean a contract -- a legally binding oral or written agreement -- it is actually a broader term, including understandings that might not rise to the level of a legally binding contract.

Definition provided by Nolo’s Plain-English Law Dictionary.