stipulation

Stipulation generally means an agreement, a bargain, proviso, or condition. If the stipulation complies with an applicable statute or rule of court, it will be binding. A stipulation could mean a fact, promise, or provision in a contract agreed by two parties. In contracts, a stipulation used to define an agreement that ended with specific formalities in a ceremony. In contemporary use, stipulation means a material condition or a requirement in an agreement. In litigation, a stipulation generally means an agreement between opposing parties concerning a relevant point. Furthermore, in a judicial proceeding, a stipulation is binding without consideration. In admiralty practice, we can define stipulation as a recognizance like a bail for the appearance of a defendant.

[Last updated in March of 2022 by the Wex Definitions Team]