A discount agreement is a legal agreement between two parties where one party agrees to sell goods or services to the other party at a discounted price. The discount can be a fixed amount or a percentage of the regular price, and the agreement can be for a specific period of time or a single transaction.

In order for a discount agreement to be legally binding, it must be entered into voluntarily by both parties and must be supported by consideration. Consideration is something of value that is given in exchange for the discount, such as payment or a promise to buy a certain amount of goods or services.

Discount agreements can be beneficial for both parties. The seller can increase sales by offering discounts, while the buyer can save money on purchases. However, it is important to ensure that the terms of the discount agreement are clearly defined and agreed upon by both parties to avoid any misunderstandings or disputes.

In some cases, discount agreements may be subject to certain legal requirements. For example, in the United States, certain discount agreements may be subject to antitrust laws, which prohibit businesses from engaging in price fixing or other anti-competitive practices.

Overall, the legal definition of a discount agreement is a contractual agreement between two parties where one party agrees to sell goods or services to the other party at a discounted price. To ensure that such agreements are legally binding and enforceable, it is important to carefully define the terms of the agreement and ensure that both parties enter into the agreement voluntarily and with consideration.