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What Is The Difference Between The Contract And The Agreement?

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Nouman Umar Profile
Nouman Umar answered
Contract is an agreement between two or more person creating rights and duties between them and which is enforceable by law. Pollock defines contract as every agreement and promise enforceable at law is contract.

A contract is an agreement creating and stating responsibility between the parties. According to section2b of the contract act, an agreement enforceable by law is contract. So it is clear the contract consist of two elements:
• An agreement
• The agreement should be enforceable by law.
According to section 2e every promise and combination of promises making the consideration for each other is an agreement. It is clear from the definition that promise is an agreement. Section 2 defines the promise as when any person with the suggestion is made indicate his assent thereto, it means the proposal is accepted. A proposal when accepted becomes a promise. We can say that an agreement is an accepted proposal. The process of definition shows that a contract is an agreement, an agreement is a promise and a promise is an accepted proposal. An agreement therefore comes into existence only when one party makes a proposal or offer to the other and that other signifies his assent thereto. In short every agreement is the result of a proposal from one side and its acceptability by the other.
Anonymous Profile
Anonymous answered
A contract is an agreement between two or more parties that must be enforceable by law whereas a mere agreement is an arrangement between the parties which may or may not contain the necessary elements to be enforceable before a court of law,
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Shanice Mattis
POB scholar
Anonymous Profile
Anonymous answered
We have signed an agreement to sell House jointly owned by two couples,one couple own 50% of the property out right the other party have a mortgage,now the couple with the mortgage are forcing the other owners to pay there mortgage off before they agree to sell,simple terms of a sale of 120..000 pounds one couple want 80.000 pounds to settle the mortgage while the other couple get 40.000 pounds,is this legal? We did sign against our will.the document is only termed as an agreement ,not a contract,
Anonymous Profile
Anonymous answered
Differences
Anonymous Profile
Anonymous answered
An agreement is something that someone promises the other person on which she agrees. A contract is a legally binding therefore a contract is enforced by law
Anonymous Profile
Anonymous answered
To rent, you may not use a contract, lease totally comes with agreement between two persons/parties.

Contract is a deal/agreement for supplying commodities and/or services under uniform policies and Principal set of rules stated as contract terms and conditions.
Anonymous Profile
Anonymous answered
Based on the information you give and agreement is simply oral.  It is a contract when you reduce it to writing and signatures

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