Thread: Contrato

Hi! I'd like to know if "Agreement" is the same as "Contract". Is there a subtle difference between both translations?

Thanks,

M

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Parece que si hay alguna pequenia diferencia.. habria que tener cuidado con el contexto.Tal vez al espaniol pueden ser los dos traducidos como contrato. Pero al ingles no.

Contract. An agreement between two or more parties, especially one that is written and enforceable by law
The writing or document containing such an agreement.
Traduccion. Contrato

Agreement.
A meeting of minds with the understanding and acceptance of reciprocal legal rights and duties as to particular actions or obligations, which the parties intend to exchange; a mutual assent to do or refrain from doing something; a contract.
The writing or document that records the meeting of the minds of the parties. An oral compact between two parties who join together for a common purpose intending to change their rights and duties.
An agreement is not always synonymous with a contract because it might lack an essential element of a contract, such as consideration.

To add to what has been said, a contract is a binding agreement, that is, it is legally enforceable. It is legally enforceable because it has consideration. Consideration is (according to the Oxford Legal Dictionary): An act, forberance, or promise by one party to a contract that consitutes the price for which he buys the promise of the other. In more understandable terms, if I offer to sell you my car, and you agree to buy it, that is not yet a contract, it is an agreement only. However, if you give me $5 as a deposit for the car and I take the ad out of the newspapers in expectation that you will buy my car, that is consideration from both sides, and therefore, a contract, and you and I are bound by it. It is also an agreement, but it has consideration, and is therefore a legal contract in countries with the English legal system.

I hope this helps a bit.

Isabel

Thanks to all! All the answers were so useful!! Now I understand that "Contrato" as "Contract" is a binding agreement, enforceable by law and "Acuerdo" is more like an "agreement": it is a verbal promise between parts. Do you agree with me?

Thanks again!!

Happy New Year!!

M