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Every contract involves an agreement but every agreement does not necessarily result in a contract Explain?
Yes all contracts are agreements but all agreements are not contracts. Only those agreements are contracts which can be executable by law and those agreements which cannot/impossible to execute by law is not a contract. For e.g A agreed to pay B if C default payment is a valid contract. where as A agreed to pay B if B do a favour which is illegal is not a contract.
All contract are agreement but not all agreement are contract?
all contracts are agreement but all agreements are not contract
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 an agreement between two parties?
A contract is a legally binding agreement between two or more parties.
Can you get out of rental agreement?
You can get out of any contract (most any contract) with the right circumstances. The circumstances of course are Dependant upon the terms of the contract; every contract is unique with its own rules and exclusions.
What is a synonym for a covenant?
Pact, contract, binding agreement.
Is agreement synonymous with contract?
No, agreement is not synonymous with contract. An agreement is a mutual understanding between parties, while a contract is a legally binding agreement that outlines specific terms and conditions.
Is there a loop hole in every contract?
No. The purpose of a contract is to reduce to writing an agreement between the parties. Although poorly drafted contracts are common, there are no loopholes in a well drafted contract.
What is a signed agreement?
A contract
When there is an agreement in principle is it legally binding?
Generally speaking, an agreement in principle precedes a contract. The contract is enforceable but the agreement is not.
What is the contract duration clause in the agreement?
The contract duration clause in an agreement specifies the length of time that the contract will be in effect.
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.
