GLOSSARY

Agreement definition

What does Agreement mean?

Agreement is broadly defined under EU and UK competition law so as to include activities ranging from a legally enforceable contract between two or more parties to an informal albeit clear understanding, whether entered into in writing or verbally.

In practice neither Article 101(1) TFEU or the Competition Act 1998, s 2 require a clear delineation between the concept of agreement or that of a concerted practice with the result that while conceptually it should be possible to distinguish between the two, in practice it is unnecessary. Additionally, agreements do not imply equal involvement of all parties with the result that both 'ring-leaders' and participants with reservations are nonetheless parties to an agreement. The crucial issue is whether there is proof of 'the existence of the subjective element that characterizes the very concept of the agreement, that is to say a concurrence of wills between economic operators on the implementation of a policy, the pursuit of an objective, or the adoption of a given line of conduct on the market.' Bayer AG v. European Commission: Case T-41/96 [2000] ECR II-3383


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Agreement is referenced 2 in Halsbury's Laws of England

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