What is Consent Decree?

Legal Definition
A consent decree is an agreement or settlement that resolve a dispute between two parties without admission of guilt (in a criminal case) or liability (in a civil case), and most often refers to such a type of settlement in the United States. The plaintiff and the defendant ask the court to enter into their agreement, and the court maintains supervision over the implementation of the decree in monetary exchanges or restructured interactions between parties. It is similar to and sometimes referred to as an antitrust decree, stipulated judgment, settlement agreements, or consent judgment. Consent decrees are frequently used by federal courts to ensure that businesses and industries adhere to regulatory laws in areas such as antitrust law, employment discrimination, and environmental regulation.
-- Wikipedia
Legal Definition
One entered by consent of the parties; it is not properly a judicial sentence, but la in the nature of a solemn contract or agreement of the parties, made under the sanction of the court, and in effect an admission by them that the decree ik a just determination of their rights upon the reni facts of the case, if such facts bad been proved. Allen v. Richardson. 9 Rich. Eq. (S. C.) 53; Kelly v. Milan (a C.) 21 Fed. 842; Schmidt v. Mining Co.., 28 Or. 9, 40 Pac/ 1014, 52 Am. St. Rep. 759.
-- Black's Law Dictionary