is something to that. but I think a gentleman`agreement is more about the fact that there is no legal settlement in the first place, but that both parties to the contract agree amicably and comply with the agreements. and that is what is expressed here. Too bad the article contradicts itself. The trade in diamonds by trade strike is also a legal contract – just an oral contract, as the goods and price have probably already been agreed orally. Such a system must also be respected from a purely legal point of view and is also enforceable. A gentlemen`s agreement, or gentleman`s agreement, is an informal, non-legally binding agreement between two or more parties. It is usually oral, but it can be written or simply understood as part of a tacit agreement by convention or by a mutually beneficial label. The essence of a gentlemen`s agreement is that it relies on the honor of the parties for its fulfillment, rather than being enforceable in any way. It is different from a legal agreement or contract.
A gentleman`s agreement, defined in the early 20th century as „an agreement between gentlemen working on price controls,“ has been described by one source as the loosest form of a „pool.“  It has been pointed out that such agreements can be found in all types of industries and are numerous in the steel and iron industries.  Gentlemen`s agreements were a widespread discriminatory tactic that would have been more common than restrictive alliances to preserve the homogeneity of upper-class neighborhoods and suburbs in the United States.  The nature of these agreements made them extremely difficult to prove or prosecute, and they were well after the U.S. Supreme Court`s judgments in Shelley v. .