What term describes an agreement to an offer that results in a legally binding contract?

The term that describes an agreement to an offer that results in a legally binding contract is acceptance. Acceptance occurs when one party agrees to the terms of an offer made by another party, thereby creating an enforceable agreement under contract law. For a contract to be valid, there must be a clear offer, and the responding party must accept that offer in its entirety without modifications. This mutual assent establishes the foundational element of a contract known as a "meeting of the minds," making acceptance a crucial step in the formation of a legal agreement.

The other terms do not represent this concept. Accord refers to a mutual agreement to settle a dispute, which may or may not lead to a new contract. Ademption pertains to the failure of a gift that has been bequeathed in a will and doesn't relate to contract acceptance. Agency involves the relationship where one party is authorized to act on behalf of another but does not concern the concept of accepting an offer.