Posted on: 04th Apr, 2007 10:54 pm
Is it right to use contract and agreement interchangablly, or these terms have little bit or more than little bit difference?
Hi,
The terms "agreement" and "contract" are one and the same. But both the terms are used differently with respect to the context.
Under the Common law, the two terms have different concepts. If the parties have a "contract", it means that the arrangement between them can be enforced by the court. But in general, an "arrangement" may not be enforceable by the court.
Thanks,
Sara
The terms "agreement" and "contract" are one and the same. But both the terms are used differently with respect to the context.
Under the Common law, the two terms have different concepts. If the parties have a "contract", it means that the arrangement between them can be enforced by the court. But in general, an "arrangement" may not be enforceable by the court.
Thanks,
Sara
hi ,
ya contract and agreement are same but are used for different purpose but it depends on ocassions so you should be careful
thanks,
heavenhack
ya contract and agreement are same but are used for different purpose but it depends on ocassions so you should be careful
thanks,
heavenhack
"Is it right to use contract and agreement interchangablly, or these terms have little bit or more than little bit difference?"
Terms & conditions of a contract can be enforced in a court of law; this is what differentiates them from agreements.
An agreement may or may not have all the required elements which can result in its enforcement in court.
Terms & conditions of a contract can be enforced in a court of law; this is what differentiates them from agreements.
An agreement may or may not have all the required elements which can result in its enforcement in court.
a contract is enforceable by law bt an agreemant might nt be.
a contract is legal while an agreement is not.
a contract is legal while an agreement is not.
man o man this is a stunning array of answers. it is obvious that the two terms are used interchangeably, but i have to concur that the legalese of it all tells us that a "contract" is binding, while an "agreement" is a less formal (and therefore non-binding) form of a deal. after all, we can "agree to disagree" but i don't think we'd ever enter into a contract stipulating that.
