Are 'contract' and 'agreement' both same terms?

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Icon Mini Profile linkmanager1




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PostPosted: Wed Apr 04, 2007 10:54 pm    Post subject: Are 'contract' and 'agreement' both same terms?

Is it right to use contract and agreement interchangablly, or these terms have little bit or more than little bit difference?
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Icon Mini Profile sara
sara
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PostPosted: Wed Apr 04, 2007 11:50 pm    Post subject: RE: Contract vs agreement

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
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PostPosted: Thu Apr 05, 2007 4:45 am    Post subject:

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
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PostPosted: Thu Apr 05, 2007 1:50 pm    Post subject:

Quote:
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.
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