Gentleman Agreement Deutsch
Undertakings which as a whole have a dominant position enter into price cartels, thus excluding free market forces in price formation to the detriment of the consumer. Concerted practices are prohibited by German and European anti-dominant law (Art. 1 GWB and Article 101(1) TFEU).  Separating from the gentlemen`s agreement are contracts concluded orally, which are in principle legally binding in all their elements, but whose content is often not proven in the event of a dispute. In this respect, the agreement concluded by handshake has a social duty of execution. The international diamond trade is an example of this. The trade in precious stones worth millions of dollars is often agreed by a handshake. When a contractor does not comply with his obligations, he is ostracized and excluded within this elitist group. The debtor is expected to behave like a gentleman that should not be legally enforceable.  A gentlemen`s agreement is only a moral but not legally binding agreement, i.e. a bulk agreement.  The agreement is based on good faith and most often on mutual trust.
 Statements are made without legal will, because the desired success must be achieved by relying on the partner`s word or by granting it to decency.   This is an example of so-called soft law, which exists in both private and public law, particularly in international law. . . .