gentleman's pact

gentleman's pact

A legally non-binding arrangement that is guaranteed only by a verbal or mutually understood agreement by the parties involved. Though my father left me his entire estate in his will, I made a gentleman's pact with my brother to share the wealth equally between us.
References in periodicals archive ?
The main source of the stand-off is an agreement in Mexican football known as the 'Gentleman's Pact', which is set up to protect clubs' investments in producing home-grown players.
Summary: Atletico star needs a new challenge but dare he break the gentleman's pact of the crosstown transfer?