All contracts are agreements, but not all agreements are contracts. What does this statement mean?

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“All contracts are agreements, but not all agreements are contracts.” What does this statement mean?

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Business Law Principles and Practices

ISBN: 978-1133586562

9th edition

Authors: Arnold J. Goldman, William D. Sigismond

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Question Posted: Sep 15, 2015 06:18 AM

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All contracts are agreements, but not all agreements are contracts. What does this statement mean?

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If an agreement creates a legal obligation then it is conside...View the full answer

Business Law Principles and Practices

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