WHAT IS CONTRACT?
An agreement, upon sufficient
consideration,
to do or not to do a particular
tiling. 2 Bl. Comm. 442; 2 Kent, Comm. 449. Justice v. Lang, 42 N. Y. 496, 1
Am. Rep. 576; Edwards v. Kearzey, 96 U. S. 599, 24 L. Ed. 793; Canterberry v.
Miller, 76 111. 355. A covenant or agreement between two or more persons, with
a lawful consideration or cause. Jacob. A deliberate
engagement
between competent parties, upon a legal
consideration, to do. or abstain from doing, some act. Wharton. A contract
or agreement is either where a promise Is made on one side and assented to on
the other; or where two or more persons enter into engagement with each other
by a promise on either side. 2 Steph. Comm. 54. A contract is an agreement by
which one person obligates himself to another to give, to do. or permit, or not
to do. something expressed or implied by such agreement. Civ. Code I,a. art.
1761; Fislc v. Police Jury. 34 La. Ann. 45. A contract is an agreement to do or
not to do a certain thing. Civ. Code Cal.
WHAT IS AGREEMENT?
A concord of understanding
and intention, between two or more parties, with respect to the effect upon
their relative
rights and duties, of certain past or future facts or performances. The act
of two or more persons, who unite in expressing a mutual and common purpose,
with the view of altering their rights and obligations. A coming together of
parties in opinion or determination;
the union of two or more minds in a thing done or to be done; a mutual
assent to do a thing. Com. Dig. “Agreement,” A 1. The consent of two or more
persons concurring, the one in parting with, the other in receiving, some
property, right, or benefit. Bac. Abr. A promise, or undertaking.
This is a loose and incorrect sense of the word. Wain v. Warlters. 5 East. 11.
The writing or instrument
which is evidence of an agreement. Classification.
Agreements are of the following several descriptions, viz.: Conditional
agreements, the operation and effect of which depend upon the existence of a
supposed state
of facts, or the performance
of a condition, or the happening of a contingency.
Executed agreements, which have reference to past events, or which are at once
closed and where nothing further remains to be done by the parties. Executory
agreements are such as are to be performed in the future. They are commonly preliminary
to other more formal or important contracts or deeds, and are usually evidenced
by memoranda, parol promises, etc. Express agreements are those in which the
terms and stipulations are specifically declared and avowed by the parties at
the time of making the agreement.
WHAT IS CONSENSUS?
The middle ground between agreeing and disagreeing. The participants share a
value and goal and work to get that goal to get a decision made. Refer to collective
responsibility.
