Contract vs Agreement – Know the Difference! ⚖️
Many people use these terms interchangeably, but legally they’re not the same 👇
🤝 Agreement
An agreement is a mutual understanding or arrangement between two or more parties.
➡️ Not every agreement is legally enforceable.
🖊️ Contract
A contract is an agreement recognized and enforceable by law.
➡️ It must include essential elements like free consent, lawful consideration, and lawful object.
✨ All contracts are agreements, but not all agreements are contracts.
Stay informed. Know your rights.
📚 Legal education for all!
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