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What is Contracts vs. Agreements Explained about?

All agreements are not necessarily contracts. A contract is a legally binding agreement between two or more parties that the law will enforce. For a contract to be formed, there must be an offer and acceptance, consideration, intention to create legal relations, and the agreement must be possible to perform. An agreement is not necessarily enforceable by law and relies on the honor of the parties. All contracts are agreements because they require mutual understanding and consent between parties regarding th

Author

Nitish Manchanda

Language

EN