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a contract is LEGALLY BINDING, an agreement is not necessarily legally binding depending on the circumstances
Monserrat Bashirian
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What is contract and agreement?
There is a minor difference between contract and agreement. The outline of a contract is more formally presented than the terms laid out in an agreement. A contract contains the obligations and authority that the court has to enforce while the agreement is a less formal version of the two parties obligations.
What is agreement contract?
There is a minor difference between contract and agreement. The outline of a contract is more formally presented than the terms laid out in an agreement. A contract contains the obligations and authority that the court has to enforce while the agreement is a less formal version of the two parties obligations.
What is the difference between breach of contract and discharge of contract?
Discharged mean terminated. A contract can be discharged by -performance -frustration -Agreement between the parties and -breach If there is a breach of terms of the contract, a contract can be discharged.
Difference between contract of Affreightment and charterparty contract?
Contract of affreightment is hiring the vessel or part of the vessel on the other hand charterparty contract mean the trade agreement between charterer and the shipowner.
What is the difference between a simple contract and a mere agreement?
A simple contract is one that is very basic and on paper with signatures. A mere agreement may only be verbal.
Which statement about contracts is correct?
The correct statement about contract is that a contract is an agreement between a buyer and a seller. A contract can be a written or oral agreement.
What is the difference between a simple agreement and a mere agreement?
A simple contract is one that is very basic and on paper with signatures. A mere agreement may only be verbal.
What is the difference between lump sum contract and turnkey contract?
A lump sum contract is an agreement to make a one time payment for goods and services as specified by the purchaser in the agreement. A turnkey contract is an agreement to deliver a completed ready to use service or project without any specifications made by the purchaser.
What is the difference between an implied an expressed contract?
An express contract is a contract in which the terms of the agreement are stated in words, (oral or written) while an implied-in-fact contract is a contract formed in whole or in part from the conduct of the parties.
Difference between contracts and agreements?
A contract is more than an agreement. It has to meet certain criteria before it can be considered a contract. A contract would have to have offer, acceptance, consideration and intention to create legal relations. An agreement can be between family members, friends. This would not be legally binding as there would most probably not be any intention for legal relations.
A is a legallybinding agreement between two or more partie?
A contract is a legally binding agreement between two or more parties.
What is an agreement between two parties?
A contract is a legally binding agreement between two or more parties.
