A gentlemen`s agreement, or gentleman`s agreement, is an informal and legally non-binding agreement between two or more parties. It is usually oral, but it can be written or simply understood as part of a tacit agreement by convention or by mutually beneficial label. The essence of a gentlemen`s agreement is that it depends on the honour of the parties for its achievement, rather than being enforceable in one way or another. It differs from a legal agreement or a contract. History has shown us the impact of such an agreement on many lives. Until today, whether legally binding or not, it remains the same, and it may be time for people to re-educate themselves on the effects of an understanding that simply shows us how the principles of honor, integrity, misinformation and correct behaviour can have a great influence in our daily lives. Until Jackie Robinson was hired by the Brooklyn Dodgers in 1946, a gentlemen`s agreement ensured that African-American players were excluded from organized baseball.  Gentlemen`s agreements between industry and the U.S. government were common in the 1800s and early 1900s. The Bureau of Corporations, a predecessor of the Federal Trade Commission, was established in 1903 to investigate monopolistic practices. In the worst case scenario, a gentlemen`s agreement can be entered into to practice anti-competitive practices such as pricing or trade quotas. Since a gentlemen`s agreement is tacit – which is not subject to the document as a binding legal treaty – it can be used to create and enforce illegal rules.
We should avoid the gentlemen`s agreement! It is another disease that must be eradicated without hesitation. How can we refer to a gentlemen`s agreement in English? As entertainment and the creative sector are still struggling to get out of their informal uniforms, it is important that industry players accept this change and adapt culture to the development and conclusion of legally binding agreements/contracts defining the commitments of the parties and defining how profit and loss are shared (among other things) … All in black and white! In English contract law, for it to be binding, an agreement must have the intention of establishing legal relations; but in trade (i.e.