All Contracts are Agreement but All Agreements are Not Contract
Lead author · Corresponding
Kashish Sharma
Student at IILM university, Gurugram, India
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DOIhttps://doij.org/10.10000/IJLMH.113847
Abstract
Contracts is defined in S2(h) of Indian contract Act, 1874 .Contracts and Agreements are mostly considered synonymous terms, but they are different in many aspects, and they have a totally different definition. An agreement is the basic structure and when the agreement is legally bounding it becomes a contract, but if it does not include the essentials to form a contract then it can become a void, voidable, domestic agreement. Therefore, not every agreement turns into a contract, but it can be considered as an essential step forward to form a contract. This paper aims to differentiate between these two terms and elaborate the essentials to turn an agreement into a contract.
Keywords
Contracts
Indian Contract Act
1874
Agreement
Essentials of a contract
Void agreements
Voidable Agreements
Domestic Agreements
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