An agreement is a commitment between two parties that may or may not be legally binding. For instance, a boy can agree to take a girl to the movies, but there is no contract there.\n\nA contract is a legal agreement between two parties where there is an intent to be bound by one party and an agreement to accept the offered terms by another. The parts of a valid contract are the agreement and consideration on both sides.\n\nConsideration is something that one does that one is not legally bound to do or something that one agrees not to do that one is legally able to do. Back to the date above. The boy has agreed to take the girl to the movies, but the girl has agreed to do nothing for the boy as keeping him company (outside of paid escorts of course) is not something that has real value. So effectively the boys offer is a gift which the girl has agreed to accept.
what is the difference between an agreement and a contract?