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Definition from Nolo’s Plain-English Law Dictionary

1) An agreement between the parties to a lawsuit. For example, if the parties enter into a stipulation of facts, neither party will have to prove those facts: The stipulation will be presented to the jury, who will be told to accept them as undisputed evidence in the case. 2) A representation or statement, typically by a party to a contract.

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