All contract are agreement but not all agreement are contracts?
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please help.. i really dont understand this statement :(
Other Answers (2)Rated Highest
A contract is simply a more complex form of an agreement in that there are requirements for capacity, intent and so on. A contract requires subject matter, terms specific enough to fashion a remedy if breached, written form in some cases.
Agreements, obversely, are loosely structured and have very few requirements, and no recourse if breached.