Business Studies, asked by harpreetpao60, 16 days ago

Explain the term, All the Contracts are agreements but all the agreements are not contract?​

Answers

Answered by Rishabhthere
0

Explanation:

Explain the term, All the Contracts are agreements but all the agreements are not contract?

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Answered by nafibarli789
0

Answer:

All the Contracts are agreements but all the agreements are not contracts.

A contract exists as a legally enforceable agreement that develops, defines, and governs mutual rights and responsibilities among its parties.

Explanation:

A contract exists as a legally enforceable agreement that develops, defines, and governs mutual rights and responsibilities among its parties.

An agreement exists as a manifestation of mutual agreement by two or more persons to one another.

According to section 2(h) of The Indian Contract Act 1872 “An agreement enforceable by law exists a contract”. It represents those agreements that exist enforceable by law they exist contracts others do not. For example, an agreement to sell a bike may be a contract, but an agreement to move to the movie may be a mere agreement not enforceable by law. To move to a movie exists a social agreement and social agreements exist not enforceable by law.

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