Which of the following terms refers to an agreement that can be legally enforced?

The term that refers to an agreement that can be legally enforced is a contract. A contract is a formal and legally binding agreement between two or more parties that outlines the terms of the agreement and the obligations of each party involved. For a contract to be valid, it must meet certain criteria, including mutual consent, consideration, and the capacity of the parties to enter into the agreement.

In contrast, an accord typically relates to a mutual agreement to settle a dispute or claim, but it may not always be legally binding. An understanding is generally more informal and denotes a shared comprehension between parties rather than a formality that has legal enforceability. A commitment might imply a promise or dedication to a course of action but lacks the legal framework and enforceability that a contract provides. Thus, the definition and legal implications of a contract make it the correct answer.