A contract is an agreement between parties that is legally enforceable. A simple "agreement" is an arrangement between the parties which may or may not contain the necessary elements to be enforceable before a court of law.
An agreement is not necessarily legally binding, example, you might agree to "take a blood tests"...if you get a chance. There is no promise of exchange of services, goods, or compensation. Agreement refers to meeting of minds at a certain point. Agreement may be on business views, commercial views or domestic views. If the agreement is not legally binding it cannot be enforced by law. Agreements where consent is not genuine are called voidable agreement. An agreement becomes a contract when it is made legally binding and on meeting the three conditions.
An agreement is not necessarily legally binding, example, you might agree to "take a blood tests"...if you get a chance. There is no promise of exchange of services, goods, or compensation. Agreement refers to meeting of minds at a certain point. Agreement may be on business views, commercial views or domestic views. If the agreement is not legally binding it cannot be enforced by law. Agreements where consent is not genuine are called voidable agreement. An agreement becomes a contract when it is made legally binding and on meeting the three conditions.
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