What Is A Contract And What Is An Agreement

An explicit contract is a contract in which the terms of the agreement are openly stated at the time of manufacture and declared that they pay a declared price for certain goods. 2 Bl. Com. 443. 3. Express contracts are distinguished from three types 1. BI parol, or in writing, as specialties. 2. By specialty or under seal. 3. Extract from the Protocol.

4.-1. A Parol contract is defined as an agreement that can be concluded or voluntarily, orally or in writing, unsealed, sealed, after a good consideration, capable of entering into contracts, doing a lawful act or refraining from doing anything, the execution of which is not required by law is not prescribed. 1 Com. Contr. 2 chit. No 2.5. It is clear from this definition that there must be a sufficient De Parol agreement, 1. The mutual or reciprocal consent of two or more persons with the capacity to contract.