A more thorough explanation:

Definition: A gentleman's agreement is an unwritten agreement between two parties that is not legally enforceable but is based on the good faith and honor of the parties involved.

For example, two business partners may have a gentleman's agreement to split profits equally, even though there is no written contract. Another example could be two neighbors agreeing to share the cost of repairing a fence that sits on their property line.

These examples illustrate how a gentleman's agreement relies on trust and mutual respect between the parties involved. While there is no legal obligation to follow through with the agreement, it is expected that both parties will honor their word and act in good faith.