Is a private agreement legally binding, and is a private agreement legally binding?

As long as the content of the agreement is not prohibited by law, and it is reached between the parties in a fair and voluntary manner, it has legal effect. If the content of the agreement involves some provisions prohibited by law, the legal effect of the agreement cannot be completely negated, but the provisions that prohibit the provisions of the law will be invalid. In the process of signing a contract, neither party may impose its will on the other party, and no unit or individual may illegally interfere with the contract.

When the parties conclude a contract, they should take fairness as the starting point, which is a prerequisite for the smooth performance of the contract. Article 502 of the Civil Code: A contract established in accordance with law shall take effect upon its establishment, unless otherwise provided by law or otherwise agreed by the parties. In accordance with the provisions of laws and administrative regulations, if the contract shall go through formalities such as approval, follow those provisions.

If the failure to go through formalities such as approval affects the effectiveness of the contract, it does not affect the validity of the provisions of the contract on the performance of obligations such as reporting for approval and the validity of the relevant clauses. If a party who should go through formalities such as applying for approval fails to perform its obligations, the other party may request that it bear responsibility for violating such obligations. Where, in accordance with the provisions of laws and administrative regulations, the modification, transfer, or termination of a contract shall go through formalities such as approval, the provisions of the preceding paragraph shall apply.

Legal Analysis: Legally Enforceable. The compensation agreement signed privately is legal and valid, and cannot be reversed.

If either party believes that there was a major misunderstanding or obvious unfairness in signing the compensation agreement, or that there was fraud or coercion in signing the agreement, it may sue to revoke the compensation agreement, and the court shall make a new judgment in accordance with the regulations.

Legal basis: Article 143 of the "Civil and Wild Quiet Code": Grinding Belt The civil juristic act of the blind ridge reed that meets the following conditions is valid:

1) The perpetrator has the corresponding capacity for civil conduct; (2) The expression of intent is true; (3) Do not violate the mandatory provisions of laws and administrative regulations, and do not violate public order and good customs.

Article 144 of the Civil Code: Civil juristic acts carried out by persons without capacity for civil conduct are invalid.

Article 146 of the Civil Code: Civil juristic acts carried out by the actor and the counterpart with false expressions of intent are invalid.

The effectiveness of civil juristic acts concealed by false expressions of intent is to be handled in accordance with the relevant legal provisions.

Article 153 of the Civil Code: Civil juristic acts that violate the mandatory provisions of laws and administrative regulations are invalid. However, the mandatory provisions do not lead to the invalidity of the civil juristic act.

Civil juristic acts that are contrary to public order and good customs are invalid.

Article 154 of the Civil Code: Civil juristic acts in which the actor maliciously colludes with the counterpart to harm the lawful rights and interests of others are invalid.

Legal Analysis: Private agreements have legal effect. If the agreement is signed between private individuals, if the content of the agreement does not violate the law, the subject matter of the contract is not prohibited or restricted by law, the content of the contract is an expression of the true intention of both or several parties, and the signing of the contract is voluntary, then the contract is valid and protected by law without the need to perform special procedures.

Legal basis: Article 464 of the Civil Code of the People's Republic of China A contract is an agreement between civil subjects to establish, modify or terminate a civil legal relationship. Marriage, adoption, guardianship, and other agreements related to status relationships shall be governed by the laws and regulations on such status relationships; Where there are no provisions, the provisions of this Part may be applied by reference on the basis of their nature.

Legal Analysis: Agreements that do not violate laws and regulations are effective.

Legal basis: Article 490 of the Civil Code of the People's Republic of China Where the parties conclude a contract in the form of a contract, the contract shall be established when both parties sign, affix their seals or press their fingerprints. The contract is formed when one of the parties has fulfilled its primary obligations and the other party has accepted it before signing, stamping or fingerprinting.

Laws and administrative regulations stipulate that a contract for sales and promotion shall be concluded in writing, and the parties have not adopted the written form but one party has performed its main obligations and the other party accepts it.