What is the definition of "plea bargaining" in legal terms?

Plea bargaining is fundamentally defined as an agreement in which a defendant agrees to plead guilty to a lesser charge in exchange for a more lenient sentence. This process is significant in the legal system because it helps to expedite court proceedings, reduce the burden on the court system, and provide the defendant with a guarantee of a specific outcome. By entering into a plea bargain, defendants may avoid the uncertainties of a trial, including the possibility of a harsher sentence if convicted of the original, more serious charges.

The other options do not accurately encapsulate the essence of plea bargaining. For instance, a formal charge brought by a prosecution refers to the indictment process, which initiates legal proceedings but does not involve negotiation or agreement. The legal principle ensuring a fair trial relates to defendants' rights and due process but isn't specific to plea bargaining. Lastly, while waiving the right to a trial is a component of some plea bargains, this definition alone does not convey the mutual agreement aspect that is central to plea bargaining.