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hi!

Could you please explain the difference between contract and agreement? Is there actually any difference between these two terms in American/British legal system? For example in the text below the terms are expressly distinguished.

«It was all handled according to numbers,» Virginia said. «General classifications. For instance, number one to a thousand was personal correspondence. Number one thousand to three thousand represented contracts. Three thousand to five thousand, probate. Five thousand to six thousand, wills. Six thousand to eight thousand, agreements. Eight thousand to ten thousand, real estate transactions.»
by Erle Stanley Gardner "The Case of the Horrified Heirs"

Thank you in advance
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Comments  (Page 2) 
Based on your description, the short answer is NO. However, don't be fooled, just because the title of a document, such as" Memorandum of Understanding" (MOU), might imply that an enforceable contract has not been reached, doesn't necessarily mean it is not a binding contract. What matters is the language used in the document and the intention of the parties as viewed by the court.
Contract is a formal Agreement wherein an "offer", "accpetance" / "consent" between (minimum 2) parties, involves an exchange of some monytory "consideration". It may either be an express or implied.
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Sorry for the correction here but I couldn't leave it be. "Consideration" need not be monetary!!!! Indeed, the simple fact that a party has given up a legal right or taken some form of action not otherwise required might support consideration for the purposes of contract formation. The vital question is whether it is a "bargained for" exchange of promises.


Simple

An Agreement enforcable by law is a Contract. All contracts are agreements, all agreements are not contracts.


Anonymous


HI!

I DON'T UNDERSTAND THE STATEMENT

ALL AGREEMENTS ARE NOT CONTRACT BUT

ALL CONTRACTS ARE AGREEMENTS!!



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A contract is an agreement between one or more persons with one or more persons whereby an obligation is created regulated or dissolved. It is binding. An agreement is flexible.
I agree with the answer right above mine, Anonymous. You need to contact a legal advice site which covers the law where you live. I don't even know what you mean by the abbreviation "MOU." Sorry... Emotion: sad
FYI (For Your Information) - "MOU" is an abbreviation for Memorandum of Understanding and the use of the term GENERALLY means that the arrangment is not binding.
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What is the difference between MoU and contract?
Is it possible to sign a contract without having a MoU?
If do so, are there any problems?
pls explain to me
Thank you in advance
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