Signing An Agreement Definition

An agreement is a legally binding contract between two or more parties. It is an agreement in which each party agrees to do something, or refrain from doing something, in exchange for something else of value. The purpose of an agreement is to create a mutual understanding between the parties as to what they are each expected to do.

A contract is a specific type of agreement that is written and signed by both parties. A contract typically involves the exchange of goods, services, money, or property, and includes provisions for how the deal will be carried out. Contracts are usually enforceable by law, meaning that if one party fails to hold up their end of the bargain, the other party can take legal action to get what they are owed.