A peace treaty is a formal agreement between two or more parties, often countries, to end hostilities and establish peace. It typically outlines the terms and conditions that each party must follow to resolve conflicts and prevent future disputes. Peace treaties can address issues such as territorial boundaries, reparations, and political arrangements. These agreements are usually negotiated after a conflict, such as a war, and may involve international organizations like the United Nations to help facilitate discussions. Successful peace treaties can lead to lasting stability and cooperation, while failure to adhere to their terms can result in renewed tensions or conflict.