Difference between Contract and Agreement in Law.

MEANING:-  When an agreement is enforceable by law, it becomes a contract.

When an offer made by a party is accepted, it becomes an agreement.

Consideration:- Consideration has to be given.

Agreements can be formed without consideration.

Mentioned in:- Section 2(h) of the Indian Contract Act 1872

Section 2(e) of the Indian Contract Act 1972

Preferred mode:- Written contracts are generally preferred over oral contracts.

Agreement can be verbal or written.

Legality:- Every contracts has a legal obligation.

Agreements may or may not have a legal obligation