De Facto Agreement Definition
When it comes to legal terms, there are many that may be confusing to those who are not familiar with the jargon. One such term is “de facto agreement.” In this article, we will break down the meaning of the term and explain how it is used in the legal realm.
A de facto agreement is a term that refers to an agreement that is not necessarily formal or written down but is still recognized as binding by all parties involved. It is an unwritten agreement that is based on the actions and behavior of those involved, rather than a formal contract.
De facto agreements are often used in situations where a formal contract is not practical or necessary. For example, two neighbors may have a de facto agreement to share the cost of maintaining a fence that sits on their property line. Even though there is no formal agreement in writing, both parties understand the terms and consider it to be a binding agreement.
Another common use of de facto agreements is in family law cases. For example, if two parents are separated but continue to share custody of their children without a formal agreement in place, their arrangement may be considered a de facto agreement.
It is important to note that just because an agreement is considered de facto does not mean it is not legally binding. If both parties have acted in accordance with the agreement, it can still be recognized and enforced by the courts if necessary.
In conclusion, a de facto agreement is an agreement that is recognized as binding even though it is not formal or written down. It is based on the actions and behavior of those involved and is often used in situations where a formal contract is not practical. While informal, de facto agreements can still be legally binding and should be taken seriously.
