What is the key difference between an agreement and a contract?
A) A contract is always enforceable in the court of law, while an acceptance may or may not be.
B) A contract can only be between two individuals, while an acceptance can have two or more people involved.
C) A contract requires mutual assent from all parties, while an acceptance only requires a majority approval.
D) A contract need not be legally binding, while an agreement must be legally binding.

Question

Quizplus · Accepted Answer

A contract is always enforceable in the court of law because it meets certain legal criteria that make it binding, such as mutual assent, consideration, capacity, and legality. An agreement, on the other hand, may not meet these criteria and thus may not be enforceable in court.

What Is the Key Difference Between an Agreement and a Contract