Author Question: What is the difference between an agreement and a contract? A) An agreement results whenever two ... (Read 55 times)

Metfan725 · **on:** Jun 24, 2018

What is the difference between an agreement and a contract?
A) An agreement results whenever two people's minds meet on a subject, but a contract only exists when the parties intend to be legally obligated by the terms of the agreement.
B) An agreement must be put in writing, whereas a contract may be made orally.
C) An agreement is binding for a shorter period of time than a formal contract.
D) An agreement may be made for an unlawful purpose, whereas a contract must be made for a lawful purpose.

Question 2

When parties are not in pari delicto, the least guilty party is granted relief when it is in the public interest.
Indicate whether the statement is true or false