It may mean a formal written agreement to do something or not to do something, or to pay an amount of money, though there are other significant covenants in the Legal , Medical , banking, Marriage arenas.
Many of us are more familiar with the word as it is used in the Biblical or Theological sense.
The Hebrew term or word for this kind of Covenant is בְּרִית (berith) — a covenant
We find an example here in Genesis 15:18
18 In the same day the LORD made a covenant [ בְּרִית ]with Abram, saying, Unto thy seed have I given this land, from the river of Egypt unto the great river, the river Euphrates:( KJV)
There are other covenants in addition to the Abrahamic Covenant there are also the Noahic covenant,Mosaic Covenant, Priestly covenant and Davidic covenant.
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