Replies to post #17213 on RemSleep Holdings Inc (RMSL)

[B402]

B402 Member Profile B402 Member Level Saturday, August 31, 2013 8:15:19 PM
Re: Homevendor post# 17181 Post # of 17213
Nah,,Agreement vs Contract

http://contract-law.laws.com/contract-law/contract-vs-agreement

A contract is a legally binding agreement reached between two parties, the terms of which the courts have the authority and obligation to enforce. An agreement is a less formal creation of an obligation between the two parties.

An agreement usually lacks one or more of the essential elements that are required to be present in order to form a valid contract that will be considered legally enforceable by a court of law.

Contracts outline the terms of the relationship that should be formed between the two parties to the contract. An agreement also outlines the terms of the relationship between the two. However, the difference is that the contract’s outline is far more rigid than that of a contract.

The essential difference between an agreement and a contract is that typically an agreement will only modify a contract that is already in place but does not place an obligation on either one of the parties to provide consideration to the other party, which a contract requires. A contract can involve the exchange of promises between the parties to the contract, while an agreement may simply involve one party accepting the offer from another party. - See more at: http://contract-law.laws.com/contract-law/contract-vs-agreement#sthash.GnQZmoQB.dpuf

B402 Member Level Saturday, August 31, 2013 8:24:04 PM
Re: B402 post# 17183 Post # of 17213
Contracts that Fall Under Statute of Fraud

http://contract-law.laws.com/statute-of-frauds/contracts-that-fall-under-statute-of-fraud

The following are contracts which fall under the Statute of Frauds:

Involving Land

Cannot be Completed within One Year

Collateral Promises

Marriage Promises

Sale of Goods

- See more at: http://contract-law.laws.com/statute-of-frauds/contracts-that-fall-under-statute-of-fraud#sthash.v3dudIPm.dpuf

Sometimes "Agreements" are Much more Convenient :)