On the other hand, something like a rental agreement might outline the payment for specific items like room and board or certain terms of the agreement like the ability to sublet a living space. This makes sense when intangible services like cleaning or technical support need to be rendered. In each case, the listed agreement protects both parties from legal recourse while allowing parties to share resources or information in exchange for something else.įor example, in the case of a service contract agreement, a company may outline the rate of pay in exchange for the services provided by the other party.

Here are a few common examples of legal contract agreements: What is an agreement between two parties?Ī legal agreement between two parties takes place when both parties have reached a mutual position and have exchanged something of value - called “ consideration” - between one another.