Lyric discussion by Alk3Crimson 

Cover art for What The Hell Is A Stipulation? lyrics by Reggie and the Full Effect

i disagree completely with the comment above. a stipulation can be something else besides a legal agreement, it can be a catch or something that limits something else. in the case of the song, i think this is the typical case of guy likes girl but she just wants to be friends, and he gives her more than he should, despite knowing how she feels. then he lies about he being happy with the way things are so she'll feel good.