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A general term referring to an agreement, either express or implied, written or oral.

The term understanding is an ambiguous one; in order to determine whether a particular understanding would constitute a contract that is legally binding on the parties involved, the circumstances must be examined to discover whether a meeting of the minds and an intent to be bound occurred.


Meeting of Minds.

West's Encyclopedia of American Law, edition 2. Copyright 2008 The Gale Group, Inc. All rights reserved.
References in periodicals archive ?
* Requires documentation be understandable to an experienced auditor having no previous connection to the audit.
XBRL complements the objective of a single set of high-quality, understandable and enforceable global accounting standards.
The danger of inadequately qualified summary statements such as Chemerinsky's is that they feed a general misconception, and the understandable ire of many religious citizens, by suggesting that all "voluntary" prayer has categorically been ruled impermissible in public institutions.
His excellent book walks the reader through an understandable example of how to build a team.
We're part of the largest country in the region; I think it's completely understandable." Like LATIN TRADE readers, Bush says Miami's most serious competitor for the secretariat is Panama, due to its infrastructure, centrality and its trade history as the home of the Panama Canal.
Second, the software entities intended to manage those components would have to work in seamless, easily understandable ways to mask administrative complexity and minimize risk as networks scaled upwards.
Although it's certainly understandable that parents who have suffered at the hands of what Dr.
Even so, she added, "it's the media's job to get complicated information across in an understandable format, but it's not my job to make it easier for them."
Only Pujol's mother was able to calm her overwhelmed daughter, who responded to the announcement with an understandable outpouring of tears.
It's understandable that you want to visit her, but it's also understandable that your parents are worried.
The motivation for, if not the mechanics of, the notice is understandable: OTR apparently wants to assess the number and scope of letter rulings issued by them and their predecessor agency, the Department of Finance and Revenue.
Fortunately, he provides well-written and easily understandable explanations, albeit technically abbreviated, throughout.