PPT - Distinguish Agreement & Contract | Business Law - B Com PDF Download

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? A contract is an agreement between parties that is legally enforceable.
An agreement between two or more competent parties in which an
offer is made and accepted, and each party benefits. The agreement
can be formal, informal, written, oral or just plain understood. Some
contracts are required to be in writing in order to be enforced. An
agreement between two or more parties which creates obligations to
do or not do the specific things and that are the subject of that
agreement. Examples of a contract are a lease, a promissory note, or a
rental agreement.
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? A contract is an agreement between parties that is legally enforceable.
An agreement between two or more competent parties in which an
offer is made and accepted, and each party benefits. The agreement
can be formal, informal, written, oral or just plain understood. Some
contracts are required to be in writing in order to be enforced. An
agreement between two or more parties which creates obligations to
do or not do the specific things and that are the subject of that
agreement. Examples of a contract are a lease, a promissory note, or a
rental agreement.
? Contracts are divided into express or implied. An
express contract is one where the terms of the
agreement are openly uttered and avowed at the
time of making, as to pay a stated price for
certain goods.
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? A contract is an agreement between parties that is legally enforceable.
An agreement between two or more competent parties in which an
offer is made and accepted, and each party benefits. The agreement
can be formal, informal, written, oral or just plain understood. Some
contracts are required to be in writing in order to be enforced. An
agreement between two or more parties which creates obligations to
do or not do the specific things and that are the subject of that
agreement. Examples of a contract are a lease, a promissory note, or a
rental agreement.
? Contracts are divided into express or implied. An
express contract is one where the terms of the
agreement are openly uttered and avowed at the
time of making, as to pay a stated price for
certain goods.
· Offer and Acceptance
· Intention to Create Legal Relations 
· Lawful Consideration
. Capacity of Parties 
· Free Consent
. Lawful Object 
· Writing and Registration
· Certainty
· Possibility of Performance 
. Not Expressly Declared Void
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? A contract is an agreement between parties that is legally enforceable.
An agreement between two or more competent parties in which an
offer is made and accepted, and each party benefits. The agreement
can be formal, informal, written, oral or just plain understood. Some
contracts are required to be in writing in order to be enforced. An
agreement between two or more parties which creates obligations to
do or not do the specific things and that are the subject of that
agreement. Examples of a contract are a lease, a promissory note, or a
rental agreement.
? Contracts are divided into express or implied. An
express contract is one where the terms of the
agreement are openly uttered and avowed at the
time of making, as to pay a stated price for
certain goods.
· Offer and Acceptance
· Intention to Create Legal Relations 
· Lawful Consideration
. Capacity of Parties 
· Free Consent
. Lawful Object 
· Writing and Registration
· Certainty
· Possibility of Performance 
. Not Expressly Declared Void
? An agreement is a meeting of the minds. An agreement is made
when two people reach an understanding about a particular issue,
including their obligations, duties and rights. While agreement is
sometimes used to mean contract — a legally binding oral or written
agreement — it is actually a broader term, including understandings
that might not rise to the level of a legally binding contract. The
writing or document that records the meeting of the minds of the
parties. It is an oral compact between two parties who join together
for a common purpose intending to change their rights and duties.