What 'happens' at an engagement party?

Ours was a backyard BBq at his aunt's *mini-estate*. It was a catered buffet & ppl just mingled & got to know each other. I kept it simple, b/c we were only engaged for 7 months b4 the wedding, so it was mostly family, very close friend & those in the BP.

We all drank A LOT & just chilled. Some have the formal parties, but I thought it was not appropriate considering the length of our engagement.

ETA: we had about 65 pple in attendance. The BM & MOH made speeches, as well as my aunt, who is a reverend, she did a blessing.
We did open gifts, but that was not my choice - the in-laws & OOT guests wanted me to. I don't know if that is standard.

ours was also very informal, held at a vfw hall, only cause fh grandfather is a member so we got a discount. they can be anywhere so long as you invite who you want. we had so much fun at ours, we had a dj, my uncle so he was free , there are no rules really.

i agree about the gifts, it is a little tacky to open them in front of everyone. that is what the bridal shower is for. have fun!