16 Oct Differenza Tra Agreement E Contract
Differenza tra agreement e contract: What`s the Difference?
When it comes to legal documents, there are many terms that may seem interchangeable, but in reality, they have distinct meanings. Two such terms are agreement and contract. Although both of these words describe a legally binding understanding between two parties, there are some differences between them.
An agreement is a general term used to describe any understanding between two parties. It can be a formal or informal understanding that is not necessarily legally binding. Agreements can be verbal or written and may be enforceable in court if they meet certain conditions. However, not every agreement is legally enforceable.
For example, a handshake agreement between two friends to lend money may not hold up if one party fails to pay back the loan. In this case, the agreement is not legally enforceable because it lacks the necessary elements, such as consideration, intention to create legal relations, and certainty of terms.
On the other hand, a contract is a legally binding agreement that is enforceable in court. A contract is a formal agreement between two or more parties that outlines their obligations and responsibilities. It is a written document that contains specific terms and conditions that each party must adhere to.
For a contract to be legally enforceable, it must meet several requirements, such as offer, acceptance, consideration, intention to create legal relations, and certainty of terms. If one party fails to fulfill their obligations under the contract, the other party can take legal action to seek damages or specific performance.
In conclusion, the main difference between agreement and contract is their legal enforceability. An agreement is a general term used to describe any understanding between two parties, while a contract is a legally binding agreement that is enforceable in court. If you are entering into any legal agreement with another party, it is important to understand the difference between these two terms to ensure that your rights and obligations are protected.