"All contracts are agreement, but not all agreements are contracts"

"All contracts are agreement, but not all agreements are contracts"

http://books.google.com/books?id=y_5IGfKBrq4C&pg=PA229&lpg=PA229&dq=%22all+contracts+are+agreements%22&source=web&ots=1oGyQitItE&sig=sPcHBna5iLYamEwdtkZJq0E-89k

the freedom to contract and the recognition by society of certain agreements as legally binding are indispensable to the efficient functioning of business enterprises, in relation to the vast varity of commerical transactions in which they are engaged. it is in this context that many organizations, dealing with large projects have appointed contract managers, who have specialized knowleage of contracrs. Professional legal advice is a must for major contracts involoving large sums of money or extending over a long period of time like imports. COntracts may be standardized after scrutiny by the company's legal department
A proposal or an offer when accepted is a promise. a promise and every set of promises forming the condition for each offer is an agreement. An agreement if made with free consent of parties competent to make for a lawful consideration and with a lawful object is a contract. Thus, a contract is an agreement - expressed or implied - enforceable by law between two or more competent parties, to do or not to do a particular thing. "All conm'''''''
Contract = Agreement + enforceability by legal process
Enforceability implies a capability of being enforced by the process of law. Lacking this attribute include illegal, unlawful agreements; it may lack consideration or be without consent of the party, or may be opposed to publuc policy.


http://books.google.com/books?id=tsLBiqGVV2sC&pg=PA49&lpg=PA49&dq=%22all+contracts+are+agreements%22&source=web&ots=b44iaMRWJv&sig=UmJxC7kWj7tYqiUxJtjxcXGqlI0


Nayler, Peter, 1949-
書名:
Business law in the global marketplace : the effects on international business / Peter Nayler

Firstly let us define a contract. A contract is an agreement between two or more parties which is enforceable by law.
This does not really help us much, as all contracts are agreements but not all agreements are contracts. Let's look at an example...
if two people agree to meet at a pub at seven O'clock this does not constitute a contract...so there must be some other criteria in place to form a contract...for a contract to be valid, three questions have to be asked.

1. Has a contract been formed? For a contract to be in place and legally binding these elements need to be satisfied.
• Offer and acceptance. One of the parties must have made an offer which is accepted without qualification by the other party. An example would be where Geoff offers to sell his yacht to Mark for £5,000 and Mark accepts this verbal offer...providing other criteria are satisfied, a contract would be deemed to exist.• An intention to create legal relations. There must always have been the intent behind the agreement that if a dispute arose, the agreement should be subject to a court of law.• Purchase or exchange of assets. In its simplest terms there must be a debit and credit element for both parties; for instance in the sale of a yacht, the seller will suffer the 'loss' of his yacht but gain a benefit of £5,000...conversely the buyer will suffer the 'loss' of £5,000 but receive the benefit of the ownership of a yacht.•
Capacity. Each party must be legally able to enter into the contract, for example, minors and people of 'unsound mind' are limited in their powers to enter into contracts.• Format. In some instances, a contract must have a specific format e.g. some contracts must be in written form.
2. Is the agreement recognisable and enforceable by law? Some contracts will become invalid because of factors such as mistakes or undue influence. Examples might be errors on an invoice that is marked 'E & OE' or the example of a 'shotgun wedding'. 3. When are the obligations of the parties terminated and what remedies are there for breach of contract?
So there we have the all the criteria required of a contract. The actual drawing up of a business contract, as you might expect, would almost certainly require the services of a solicitor, but imagine that a contract was with an overseas party. In that case the services of a specialist legal translation agency would certainly be required in order to avoid any errors or omissions that might invalidate it.


http://books.google.com/books?id=n3Ky-Kw5lWsC&pg=PA107&lpg=PA107&dq=%22all+contracts+are+agreements%22&source=web&ots=UNZy51Ygb0&sig=0-FVYn2A-8aiHvBaQH9TIH4RwfE

P 107
Legal Frameworks for the Built Environment By Jean Badman, Laurie Grimmett