ELI5: Explain Like I'm 5

Gentleman's Agreement

Picture this, kiddo - you're playing with your friend and you both agree that you won't tell anyone else about your secret game. Well, that's kind of like a gentleman's agreement! A gentleman's agreement is when two grown-ups agree on something without any legal papers or documents. They trust each other to keep their word and just shake hands or give their word that they'll follow through.

For example, two businesses could have a gentleman's agreement to not sell their products in each other's territory. They both agree to keep to their own area and not compete with each other. They don't need a lawyer to make a contract or write anything down, they just rely on their word and trust each other.

Gentleman's agreements are just an informal way for people to make deals with each other. Since they're not legally binding, it's important for both parties to be trustworthy and honest with each other. It's like a promise that you make with someone that you'll keep. So always keep your promises, my little friend!