According to the definition cited, an agreement is an international treaty if it is governed by international law. This formulation makes it possible to extend the quality of the international treaty to agreements containing uncertain international legal norms (see nr. 74.). Contrary to this interpretation lato sensu, the Hungarian Law (L. tv. of 2005) interprets the term in question more narrowly: it identifies it by establishing, modifying or terminating the rights and obligations of international law (section 2/a). Ein Gentlemen`s Agreement oder Gentleman`s Agreement ist eine informel und rechtlich unverbindliche Vereinbarung zwischen zwei oder mehr Parteien. Es ist in der Regel mündlich, aber es kann geschrieben oder einfach als Teil einer unausgesprochenen Vereinbarung durch Convention oder durch gegenseitig vorteilhafte Etikette verstanden werden. The essence of a gentlemen`s agreement is that it relies on the honour of the parties for its execution, instead of being enforceable in one way or another.
It is different from a legal agreement or contract. In the worst case, a gentlemen`s agreement may be entered into to engage in anti-competitive practices such as price agreements or trade quotas. Since a gentlemen`s agreement is tacit – not bound on paper as a legal and binding treaty – it can be used to create and enforce rules that are illegal. This has resulted, in some cases, in gentlemen`s agreements where Wall Street financiers such as J.P. Morgan and his “House of Morgan” have met with the office to obtain prior authorization for mergers and acquisitions. One such example was the gentlemen`s agreement, in which regulators and the president overrided the Sherman Antitrust Act to allow United States Steel Corp. to become the world`s first billion-dollar company. A gentleman`s agreement, which is rather a point of honor and labeling, relies on the indulgence of two or more parties in the performance of spoken or tacit obligations.
Unlike a binding contract or legal agreement, there is no legal remedy for breaching a gentlemen`s agreement. In the automotive sector, Japanese manufacturers agreed that no production car would exceed 276 hp (206 kW; 280 hp); the agreement ended in 2005.  German manufacturers limit the maximum speed of high-performance sedans (sedans) and station wagons to 250 km/h (155 mph).    When the Suzuki Hayabusa motorcycle surpassed 310 km/h (190 mph) in 1999, fears of a European ban or severe repression led Japanese and European motorcycle manufacturers to agree on a cap of 300 km/h (186 mph) in late 1999.  See the list of the fastest production motorcycles….