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“Agreement vs. Contract” – Clear definitions to distinguish between terms.

In legal and business contexts, “agreement” and “contract” are often used interchangeably, but they have distinct meanings. While all contracts are agreements, not all agreements are contracts. Understanding the difference between these terms is essential for ensuring clarity, enforceability, and protection in your arrangements. Here’s a breakdown of agreements and contracts, key elements that separate them, and examples of each.

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