\"It has been contended that all contracts must be agreements but
not all agreements need to...
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Psychology
\"It has been contended that all contracts must be agreements butnot all agreements need to be contracts\"
Comment on the validity of this statement.
Support with references.
Answer & Explanation
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It has been contended that all contracts must be agreements but not all agreements need to be contracts This statement is valid in my humble opinion but before I support this with references I would like to briefly explain the two terms Contract Agreement A contract is a legally binding agreement or relationship that exists between two or more parties to do or abstain from performing certain acts There must be offer and acceptance for a contract to be formed An offer must be backed by acceptance of which there must be consideration Both parties involved must intend to create legal relation on a lawful matter which must be entered
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