Gentlemen`s agreements have come to regulate international activities as the coordination of monetary or trade policies. [13] According to Edmund Osmasczyk in the United Nations Encyclopedia and International Agreements, it is also defined as “an international term for an oral and unwritten but fully valid agreement.” [14] This type of agreement may allow a nation to circumvent national legal requirements to enter into a formal contract[13] or it may be useful for a government to want to enter into a secret agreement that does not engage the next government. [15] According to another author, all international agreements are gentlemen`s agreements because, just before the war, they are all unenforceable. [15] Osmaczyk noted that there was a difference between gentlemen`s open agreements and secret diplomatic agreements. [14] In the United States, in 1890, the prohibition of gentlemen`s agreements was introduced in interstate trade relations because the secrecy of these agreements was beyond anyone`s control. [14] In the automotive industry, Japanese manufacturers have agreed that no standard vehicle would have more than 276 hp (206 kW; 280 hp); The agreement ended in 2005. [6] German manufacturers limit the maximum speed of high-performance sedans (berlines) and breaks to 250 km/h. [7] [9] When the Suzuki Hayabusa motorcycle exceeded 310 km/h in 1999, fears of a European ban or regulatory intervention led Japanese and European manufacturers to limit to 300 km/h at the end of 1999[10] See list of the fastest series bikes. In some cases, these are gentlemen`s agreements in which Wall Street financiers, such as J.P. Morgan and his “House of Morgan,” would meet with the bureau to obtain prior authorization for mergers and acquisitions. One such example was the gentlemen`s agreement in which regulators and the president ignored the Sherman Antitrust Act, which allowed united States Steel Corp.

to become the world`s first multi-billion-dollar company. Gentlemen`s agreements have often been concluded in international trade and international relations, as well as in most industries.