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A peace treaty is an agreement between two or more hostile parties, usually countries or governments, which formally ends a state of war between the parties. It is different from an armistice, which is an agreement to stop hostilities; a surrender, in which an army agrees to give up arms; or a ceasefire or truce, in which the parties may agree to temporarily or permanently stop fighting. 
The need for a peace treaty in modern diplomacy arises from the fact that even when a war is actually over and fighting has ceased, the legal state of war is not automatically terminated upon the end of actual fighting and the belligerent parties are still legally defined as enemies. This is evident from the definition of a "state of war" as "a legal state created and ended by official declaration regardless of actual armed hostilities and usually characterized by operation of the rules of war". As a result, even when hostilities are over, a peace treaty is required for the former belligerents in order to reach agreement on all issues involved in transition to legal state of peace. The art of negotiating a peace treaty in the modern era has been referred to by legal scholar Christine Bell as the lex pacificatoria, with a peace treaty potentially contributing to the legal framework governing the post conflict period, or jus post bellum.
Since 1950, the rate at which interstate wars end with a formal peace treaty has substantially declined.Historic peace treaties
Ancient history
Probably the earliest recorded peace treaty, although it is rarely mentioned or remembered, was between the Hittite Empire and the Hayasa-Azzi confederation, around 1350 BC. More famously, one of the earliest recorded peace treaties was concluded between the Hittite and the Egyptian Empires after 1274 BC Battle of Kadesh (see Egyptian-Hittite peace treaty). The battle took place in what is modern-day Syria, the entire Levant being at that time contested between the two empires. After an extremely costly four-day battle, in which neither side gained a substantial advantage, both sides claimed victory. The lack of resolution led to further conflict between Egypt and the Hittites, with Ramesses II capturing the city of Kadesh and Amurru in his 8th year as king. However, the prospect of further protracted conflict between the two states eventually persuaded both their rulers, Hatusiliš III and Ramesses, to end their dispute and sign a peace treaty. Neither side could afford the possibility of a longer conflict since they were threatened by other enemies: Egypt was faced with the task of defending its long western border with Libya against the incursion of Libyan tribesmen by building a chain of fortresses stretching from Mersa Matruh to Rakotis, and the Hittites faced a more formidable threat in the form of the Assyrian Empire, which "had conquered Hanigalbat, the heartland of Mitanni, between the Tigris and the Euphrates" rivers, which had previously been a Hittite vassal state.The peace treaty was recorded in two versions, one in Egyptian hieroglyphs, and the other in Akkadian using cuneiform script; both versions survive. Such dual-language recording is common to many subsequent treaties. The treaty differs from others, however, in that the two language versions are worded differently. Although the majority of the text is identical, the Hittite version claims that the Egyptians came suing for peace, and the Egyptian version claims the reverse. The treaty was given to the Egyptians in the form of a silver plaque, and the "pocket-book" version was taken back to Egypt and carved into the Temple of Karnak.
The Treaty was concluded between Ramesses II and Hatusiliš III in the twenty-first year of Ramesses' reign (c. 1258 BC). Its eighteen articles call for peace between Egypt and Hatti and then proceed to maintain that their respective people also demand peace. It contains many elements found in more modern treaties, but it is more far-reaching than later treaties' simple declaration of the end of hostilities. It also contains a mutual-assistance pact in case one of the empires should be attacked by a third party or in the event of internal strife. There are articles pertaining to the forced repatriation of refugees and provisions that they should not be harmed, which might be thought of as the first extradition treaty. There are also threats of retribution, should the treaty be broken.
The treaty is considered of such importance in the field of international relations that a replica of it hangs in the UN's headquarters.Modern history
Famous examples include the Treaty of Paris (1815), signed after Napoleon's defeat at the Battle of Waterloo, and the Treaty of Versailles, formally ending the First World War between Germany and the Allies. Despite popular belief, the war did not end completely until the Allies concluded peace with the Ottoman Empire in 1919 at the Treaty of Sèvres.
The Treaty of Versailles, as well as the Kellogg-Briand Pact, is possibly the most notorious of peace treaties, and is blamed by many historians for the rise of Nazism in Germany and the eventual outbreak of the Second World War in 1939. The costly reparations that Germany was forced to pay the victors, the fact that Germany had to accept sole responsibility for starting the war, and the harsh restrictions on German rearmament were all listed in the Treaty of Versailles and caused massive resentment in Germany. Whether or not the treaty can be blamed for starting another war, it exemplifies the difficulties involved in making peace. However, no such conflict resulted from the more punitive settlement with the Ottoman Empire.
Another famous example would be the series of peace treaties known as the Peace of Westphalia. It initiated modern diplomacy, involving the modern system of nation-states. Subsequent wars were no longer over religion but revolved around issues of state. That encouraged Catholic and Protestant powers to ally, leading to a number of major realignments.
The Korean War is an example of a conflict that was ended by an armistice, rather than a peace treaty with the Korean Armistice Agreement. However, that war has never technically ended, because a final peace treaty or settlement has never been achieved.A more recent example of a peace treaty is the 1973 Paris Peace Accords that sought to end the Vietnam War.
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