Agreement Are Not Contract

„Nothing in this document affects any law in force in India, which is not expressly repealed, under which a contract must be entered into in writing or in the presence of witnesses, or a law relating to the recording of documents.“ During my first day in law of Contract class, the caption of this article was given to us as our first task. Beginning in the Jura, this subject gave me serious headaches, which I imagined for a long time until Benjamin T. Antiedu`s Salvation Golden Book (READING THE LAW) saved me from such solemn pain. „Contracts are made every day by people, whether the parties recognize it or not. Every time you spend money on a newspaper, bus ticket, plane ticket, pair of shoes, restaurant meal, laundry service, books, or lease, you`re entering into a valid and legally binding contract. Most of these events go smoothly, without any contract having been concluded. We keep making a promise that is agreed every day, young men keep offering ladies to run again before and after breaking their virginity, promising them to buy cars, pizzas, build villas, etc. and, to deeply convince the ladies, men sometimes buy them „promise“ rings to keep their hearts stable on them. As a general rule, it is only in the event of a dispute that the question of a possible contract arises. As an economic means, the treaty is based on the notion of consensual exchange and has been discussed at length in broader economic, sociological and anthropological terms (see „treaty theory“, below). In American English, the term goes beyond the legal meaning and covers a broader category of agreements.

[7] Later, Mr. Lal learned that the car was metallic gray and not pearl gray. In this regard, Mr Peela is responsible for mispresented statements and Mr Lal is free or not to continue the treaty. Are agreements that must be reduced and recorded in writing. On the other hand, a contract is a formal agreement between two parties, applicable either in court or by arbitration. Contracts shall take effect to the extent that both parties agree to the conditions….