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Generally speaking, an agreement in principle precedes a contract. The contract is enforceable but the agreement is not.

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Q: When there is an agreement in principle is it legally binding?
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Related questions

what are Difference between a contract and an agreement?

a contract is LEGALLY BINDING, an agreement is not necessarily legally binding depending on the circumstances


Is a legally-binding agreement between two or more parties.?

A contract is a legally binding agreement between two or more parties.


What is another name for the contract of agreement?

A Legally Binding Agreement.


A is a legallybinding agreement between two or more partie?

A contract is a legally binding agreement between two or more parties.


What statement is true of an executive agreement?

It is not legally binding


What do you meant by contract?

A contract is a legally binding agreement.


How binding is a purchase agreement?

Contracts are legally binding on both parties to them.


What is an agreement in principle?

An agreement in principle is a legally enforceable agreement between parties which identifies the fundamental terms which are intended to be or are agreed upon.


Is a commitment legally binding agreement between the government and a contractor?

False


What can I do to cement an agreement between two parties and make it legally binding?

You can draft a contract that states the terms of sub-letting the office space, and get both parties to sign it. This will make the agreement legally binding.


What is a legally binding agreement that can be rejected at the option of one of the parties?

voidable contract.


Is a commitment a legally binding agreement between the government and a contractor?

False