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| *Ostroff, Fair and Company>>>Small Business |
What is the difference between a contract and an agreement? |
What is the difference between a contract and an agreement? There really is no difference. One term means the other and vice-versa.... One can be proven in a court of law and the other is just hear say. Always protect yourself by getting the information in writing, even if its a trusted friend. Contracts are usually written and binding. Agreements are ususally not written (legally speaking) but can still be binding in the right situation. Both contracts and agreements technically are legally binding. A written contract is obviously binding, but an oral agreement is legally binding and enforceable. |
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