What is an Agreement? What are Its Main Characteristics?

Signing a lease, having someone agree on a job proposal, and clicking the “I agree” button are all forms of making agreements. But understanding the question from a legal perspective, what distinguishes an agreement from a contract?

Contract law basics can help us understand what a contract is.

What to know about an Agreement

An agreement in law happens when different parties agree to do a certain action (or to avoid undertaking a particular action). It might be spoken or set down in writing. Yet some agreements cannot be enforced without the help of contract law.

A contract lawyer or agreements lawyer may explain: a contract is an agreement, though not every agreement is considered a contract. An agreement becomes legally binding when specific things are in place. An introduction to contract law helps you understand the principles of contract law and what all you require to form a legally valid contract. In the next section, we will learn what makes an agreement valid.

What Makes an Agreement Valid

1. Mutual Consent

Both must reach the same agreement, in the same context. This is the basis for agreement law and is necessary to make any deal valid.

2. Lawful Purpose

The goal of the agreement must comply with the law. Contract lawyers for business verify that business agreements are valid and not connected to illegal acts.

3. Consideration

There needs to be something provided or received in exchange for the goods. This procedure is what turns an agreement into a legal document.

4. The ability to reach an agreement

Some people cannot form an agreement. There are exceptions, such as for minors, people of unsound mind, and anyone disqualified by law. It is the duty of your contracts lawyer to ensure everyone involved is legally entitled to sign.

Whenever you need a contract lawyer, simply search for an “agreement lawyer near me”, the local lawyers near you will guide on the types of contract law and also meet you in person to analyses your requirements to draft your contracts as per your needs.