By the Agreement Meaning: A Simple Explanation
When two or more parties come together to enter into an agreement, it is important to have a clear understanding of the terms and conditions of the agreement. This is where the phrase “by the agreement” comes in. This term is commonly used in legal and business documents to denote that something is done in accordance with the terms of the agreement.
By the agreement meaning, therefore, refers to actions or decisions made in line with the provisions of a binding agreement. It is a phrase that is often used to indicate the source or basis for a particular action or decision.
For instance, if two companies sign a contract that outlines the terms of their business relationship, any decision made by either party must be in accordance with the terms of the agreement. In this case, if one company decides to terminate the agreement before the expiration date, it must do so by the agreement meaning that it must follow the procedures outlined in the contract.
Similarly, if an employee is hired under a signed contract that outlines the terms of their employment, any party seeking to terminate the agreement must do so by the agreement. This means that they must follow the procedures set out in the contract, such as providing a written notice or paying any outstanding dues owed to the employee.
By the agreement meaning is also used to indicate that something is being done based on mutual consent. In some cases, parties may choose to amend the terms of their agreement, which requires both parties to agree to the changes. In this case, any action taken by either party to amend the agreement must be in accordance with the terms of the original agreement.
In conclusion, by the agreement meaning is a phrase that is used to indicate that something is done according to the terms of a binding agreement. It is a critical aspect of contract law and is often used to denote compliance with the provisions of a contract. Therefore, it is crucial to have a clear understanding of the terms and conditions of any agreement before entering into it, to ensure that both parties act in accordance with the agreement.
