4 Elements Of An Agreement And Contract

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An agreement is any understanding of an issue between some parties while a contract is a specific agreement between two or more persons to do or abstain from doing an act and it is intended to create a legally binding relation. This is the basic definition for both agreement and contract. There are many differences between an agreement and contract. This will show more deeply on what is actually an agreement and contract. Below we have also discuss about four main elements that are essential to a contract that makes it enforceable by law. All the contracts are agreement but all agreement might not be a contract. To prove this statement British Government has enacted an act called Indian Contract Act, 1872 because at that time they were ruling

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