what is difference between contract and Agreement

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Querist : Anonymous (Querist)
25 February 2011

what is difference between contract and Agreement under Contacts Act?

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Amit Minocha (Expert)
25 February 2011

an agreement enforcable by law is called as Contract

Parveen Kr. Aggarwal (Expert)
25 February 2011

All contracts are agreements but only those agreements are contracts which are enforceable by law.

Parveen Kr. Aggarwal (Expert)
25 February 2011

Section 2(e) and (f) of the Indian Contract Act, 1872:

"(e) Every promise and every set of promises, forming the consideration for each other, is an AGREEMENT."

"(h) An agreement enforceable by law is a CONTRACT."

Sachin Bhatia (Expert)
03 March 2011

Contract is an agreement between two or more person creating rights and duties between them and which is enforceable by law.

A contract is an agreement creating and stating responsibility between the parties. According to section2b of the contract act, an agreement enforceable by law is contract. So it is clear the contract consist of two elements:

Sachin Bhatia (Expert)
03 March 2011

An agreement should be enforceable by law.
According to section 2e every promise and combination of promises making the consideration for each other is an agreement. It is clear from the definition that promise is an agreement. Section 2 defines the promise as when any person with the suggestion is made indicate his assent thereto, it means the proposal is accepted. A proposal when accepted becomes a promise. We can say that an agreement is an accepted proposal. The process of definition shows that a contract is an agreement, an agreement is a promise and a promise is an accepted proposal. An agreement therefore comes into existence only when one party makes a proposal or offer to the other and that other signifies his assent thereto. In short every agreement is the result of a proposal from one side and its acceptability by the other.



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