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