Definition of stipulates:
(v) :
(transitive) To require (something) as a condition of a contract or agreement.
(v) :
(transitive) To specify, promise or guarantee something in an agreement.
(v) :
(US, transitive, formal, law) To acknowledge the truth of; not to challenge.
(v) :
(intransitive, followed by for) To ask for a contractual term.
(v) :
(intransitive, formal, law) To mutually agree.
(adj) :
(botany) Having stipules; that is, having outgrowths borne on either side of the base of the leafstalk.