treaty treat‧y [ˈtriːti] noun treaties PLURALFORM [countable]
1. a formal agreement between two countries or governments:
• The US-Taiwan trade treaty is still valid, despite the ending of diplomatic ties.
comˌmercial ˈtreaty ECONOMICS
an agreement on trade between two countries:
• Congress approved a commercial treaty with Ukraine that paved the way for a joint business venture.
— see also Maastricht Treatyˌprivate ˈtreaty COMMERCE
a private agreement for the sale of property or a work of art:
• The site will be sold by private treaty at a fixed price or by offers over a minimum sale figure.
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treaty UK US /ˈtriːti/ noun [C] (plural treaties)
► GOVERNMENT, LAW an agreement between two or more countries, formally approved by their governments: ratify/sign a treaty »
The latest nation to ratify the treaty is France.
an air/trade treaty »The US wants a new air treaty with the UK to lift barriers on the cities that each nations' carriers can serve.
► LAW a formal agreement between two people, companies, or organizations: »
Sales of partnership property should be conducted by private treaty or at auction.
→ See also COMMERCIAL TREATY(Cf. ↑commercial treaty), THE MAASTRICHT TREATY(Cf. ↑the Maastricht Treaty), PRIVATE TREATY(Cf. ↑private treaty)
Financial and business terms. 2012.