phrase indicating that an agreement
has been consciously made, and certain actions are now either required
or prohibited. For example, a lease
for an apartment
is legally binding, because upon signing the document
, the lessor
and the lessee
are agreeing to a number of conditions. The lessor typically agrees to provide
the apartment in a certain condition
for a certain length of time, and the lessee typically agrees to pay an agreed upon rent
and refrain from certain destructive behaviors. The other requirement for an agreement or contract
to be considered legally binding is consideration
- both parties must knowingly understand what they are agreeing to.
If a person
is forced, tricked, or coerced into entering into an agreement, it typically is not considered legally binding.