Contracts are agreements and agreements are not contracts

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So, from the readings I'm sure you realize that all contracts are agreements and yet all agreements are not contracts. Try and distinguish these principles in your own words and give a couple of examples to demonstrate your understanding. Is there an area or example where we could argue whether there really is just a mere agreement or an actual "contract"? This is in many ways the heart of contracts; "The mutual agreement". Have fun with it. I'm sure you can find at least one hypothetical that's a "close call".

Reference no: EM131672810

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