BACHELOR OF BUSINESS ADMINISTRATION

Detailed explanation-1: -Legal Obligation-The parties entering into a Contract must have the intention of entering into a legal obligation. Social agreements and obligations are not considered a Contract as they do not create any legal obligations on any party. Certain Terms-A legal Contract must have certainty of meaning.

Detailed explanation-2: -Agreements of social nature are not enforceable as per Indian Contract Act, 1872. These agreements do not have a legal backing. Judiciary wing of the government cannot exercise any power on these agreements.

Detailed explanation-3: -b) Social or domestic agreements are never legal binding because the parties cannot create legal relations.

Detailed explanation-4: -An agreement starts from an offer and ends on consideration but a contract has to achieve another target i.e. enforceability. Due to this breach of the contract provide a legal remedy to the aggrieved party against the guilty party. So we can say that all contracts are an agreement but all agreements are not contracts.