Fraud: if, in the case mentioned above, Mr Peela knew the actual colour of the car, but lied to Mr Lal; when he would have been guilty of fraud and such an agreement would have been questionable. „All contracts are agreements, but not all agreements are contracts” The counterparty and the object of an agreement are illegal if this is the case: this article aims to identify the difference between a contract and an agreement and how an agreement becomes a contract. An agreement is reached when an offer immediately likely to be accepted is obtained with a „mirror” acceptance (i.e. an unreserved acceptance).  The parties must have the necessary contractual capacity and the contract must not be insignificant, indeterminate, impossible or illegal. Contract law is based on the principle expressed in the Latin phrase pacta sunt servanda (usually translates into agreements to be respected, but literally „pacts must be respected”).  Offences are recognized by law and remedies may be available. To make the treaty an agreement, it is important that no contract is possible without an agreement, but we cannot say that all agreements are contracts. Section 2(y) of the Contracts Act states that „the contract is a legally enforceable agreement”. Any agreement z.B see the cinema is not a contract, if the offer is accepted, it becomes a promise.
The promise will be followed by a quid pro quo, then it will become an agreement and, if an agreement is legally applicable, it will become a treaty, see below: – i) Proposal + acceptance = PROMISE ii) promise + counterparty = AGREEMENT III) Agreement + application = CONTRACT An agreement whose importance may be made uncertain and uncertain [section 29]; The Indian Contract Act of 1872 can be interpreted as covering all kinds of possible agreements and contracts. However, in some cases, whether or not an agreement is a contract depends on the facts and circumstances. In short, all legally enforceable agreements become contracts. It follows that there may be agreements that are not contracts, but that there can be contracts that are not agreements. An agreement between spouses concluded during their marriage to determine the right to maintenance and the property of the other in the event of death or divorce. Such agreements are not enforceable unless each party makes full disclosure of its assets to the other party and has consulted with its own lawyers. Even then, most of these agreements are not enforceable unless they are entered into by spouses in the midst of separation or divorce. Contract – In accordance with Section 2(h) of the Indian Contracts Act, „a legally enforceable agreement is a contract”. .