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TOPIC: Contract or agreement?

Contract or agreement? 10 years 2 months ago #56845

  • scott97
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I was looking over the wording in my pre-inspection agreement, and I was wondering:  We call our pre-inspection agreement an "agreement," but is it legally a contract, or is it legally an agreement?

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Re: Contract or agreement? 10 years 2 months ago #56853

The two are synonyms.

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Dominic Maricic
Home Inspector Pro Home Inspection Software - CEO

Re: Contract or agreement? 10 years 2 months ago #56857

A CONTRACT is a written or verbal agreement that is enforceable by law.

An AGREEMENT is a written or verbal contract that in NOT enforceable by law.

You can have an agreement without it being a contract.

You cannot have a contract without agreement.

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There is nothing sweeter than the smell of fresh cut grass on a baseball infield, the click of a wooden bat and the taste of a hot dog at a warm sunny daytime double-header.

Re: Contract or agreement? 10 years 2 months ago #56862

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So, is a pre-inspection agreement really a contract?

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Re: Contract or agreement? 10 years 2 months ago #56863

I have an agreement with my client regarding the time, place and price.  I do not proceed unless my contract, that spells out the specifics including the consideration, is signed.

When students are in Law school, they study Contract Law, not Agreement Law.  I personally would not use the terminology, Pre-Inspection Agreement.  Check with your attorney.  Ambiguity has been the downfall of many.

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There is nothing sweeter than the smell of fresh cut grass on a baseball infield, the click of a wooden bat and the taste of a hot dog at a warm sunny daytime double-header.

Re: Contract or agreement? 10 years 2 months ago #56864

Stephen, here's the official definition. It does seem like their synonymous but I could see why just using the word Contract would e better. I wonder why so many use Agreement?

con?tract
noun
ˈk?nˌtrakt/
1.
a written or spoken agreement, esp. one concerning employment, sales, or tenancy, that is intended to be enforceable by law.
synonyms: agreement, commitment, arrangement, settlement, understanding, compact, covenant, bond; More

Valid Contract
For any agreement to constitute a valid contract, the agreement must meet several requirements. One party must make a clear offer, the other party must accept that offer, and both parties must offer consideration. Consideration, or the bargained-for exchange between parties, exists when each gives something up in exchange for the benefit he will reap under the contract.

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Dominic Maricic
Home Inspector Pro Home Inspection Software - CEO
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