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Needed a Document for different between agreement and contact?
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Differences Between Agreement and Contract
1. Promises and commitments forming consideration for the parties to the same consent is known as an agreement. The agreement, which is legally enforceable is known as a contract.
2. The agreement is defined in section 2 (e) while a Contract is defined in section 2 (h) of the Indian Contract Act, 1872.
3. The major elements of an agreement is the offer and its acceptance by the same person to whom it is made, for adequate consideration. Conversely, the major elements of an agreement are agreement and its enforceability by law.
4. Every agreement is not a contract, but every contract is an agreement.
5. An agreement needs not to be given in writing, but the contracts are normally written and registered.
6. The agreement does not legally bound any party for the performance. In the Contract, the people are legally bound to perform their part.
7. The scope of the agreement is wider than a contract because it covers all types of agreement as well as contract. On the contrary, the scope of a contract is relatively narrower than an agreement because it covers only that agreement which have legal enforceability.
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Needed a Document for different between agreement and contact? Relate...
Agreement must be oral or written both but contracts are only written from
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Needed a Document for different between agreement and contact? Related: Introduction & Types of Goods - The Sale of Goods Act(1930) , Business Law
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Needed a Document for different between agreement and contact? Related: Introduction & Types of Goods - The Sale of Goods Act(1930) , Business Law for B Com 2024 is part of B Com preparation. The Question and answers have been prepared according to the B Com exam syllabus. Information about Needed a Document for different between agreement and contact? Related: Introduction & Types of Goods - The Sale of Goods Act(1930) , Business Law covers all topics & solutions for B Com 2024 Exam. Find important definitions, questions, meanings, examples, exercises and tests below for Needed a Document for different between agreement and contact? Related: Introduction & Types of Goods - The Sale of Goods Act(1930) , Business Law.
Needed a Document for different between agreement and contact? Related: Introduction & Types of Goods - The Sale of Goods Act(1930) , Business Law for B Com 2024 is part of B Com preparation. The Question and answers have been prepared according to the B Com exam syllabus. Information about Needed a Document for different between agreement and contact? Related: Introduction & Types of Goods - The Sale of Goods Act(1930) , Business Law covers all topics & solutions for B Com 2024 Exam. Find important definitions, questions, meanings, examples, exercises and tests below for Needed a Document for different between agreement and contact? Related: Introduction & Types of Goods - The Sale of Goods Act(1930) , Business Law.
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