A divorce, or a divorce judgment, is the dissolution of the marital bonds. An agreement is a contract made dividing up all of the property and settling all the important issues between the parties. You can have a divorce without a separation agreement. If you make an agreement as to the financial terms in a separation agreement, then the two of you are signing a document that sets forth all the rights and liabilities of the parties. If you can’t make an agreement, then the judge will make that portion of the financial agreement for you, but then they will call it a court order or a judgment of the divorce.