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every contract is an agreement but not all agreements are contracts confused let us explain why to encourage us to make more videos like this please like share and subscribe we will really appreciate it thank you a couple of weeks ago we talked about non-binding agreements where an agreement can exist between the parties even though the same was not intended to be binding at the first place we share a link to that video in the description below for agreements where the parties intended it to be binding and valid it must be made by the consent of the parties competent to contract for lawful consideration and with a lawful object it can be either in our Oh also known as a gentlemans agreement or written form in every contract they must always have four ingredients namely and offer an acceptance a valid consideration and an intention to create legal relations and offer is an indication of ones willingness to do or refrain from doing something that is capable of being converted by accept
