AGREEMENT, Contract. The consent of two or more persons who undertake to comply with an obligation with regard to the contract of ownership, right or benefit, while respecting the transfer of ownership, right or advantage. Ferry. From. h.t.; COM. Dig. h.t.; Wine. From. h.t.; Ploughed. 17; 1 Com. Contr.

2; 5 R. 16 of the Ost. The terms of an agreement should be taken into account 1; 2, the types of agreements; 3 as cancelled. 2.-1. For an agreement to be reached, six things must match; there must be 1 contractual person; 2, a person with whom a contract can be concluded; 3, a matter for which a contract is to be concluded; 4, a counterparty or a legal consideration; 5, words to express agreement; 6, the consent of the Contracting Parties. Ploughed. 161; Co. Litt. 35, b.

3.-2. In their form are agreements of two types; 1, by parol or in writing, by distinction of specialities; 2, depending on the specialty or under seal. With regard to their execution, agreements are executed or executed. An agreement is deemed to have been entered into when two or more persons assume their respective rights to each other and thereby modify the property contained therein either now and immediately or at a later date after an event that gives it full effect without either party trusting the other; than where things are bought, paid for and delivered. Performance agreements, in the ordinary acceptance of the term, are contracts based on statutes, memoranda, promises or obligations De Parol and others that must be fulfilled in the future or that are concluded in preparation for more solemn and formal provisions of property. Powell on Cont. Agreements are also conditional and unconditional. They are conditional when a condition must be met before it can have full effect; they are unconditional if no conditions are attached; 4.-3.

Agreements are cancelled or effective, first by the actions of the parties, such as payment; Release – consistency and satisfaction; withdrawal, which is express or implied; 1 Watt & Serg. 442; Defeasance; by novation: second, by actions of the law, such as confusion; Merger; the passage of time; Death, as when a man who has committed himself to teaching an apprentice dies; Expiration of the item that is the subject of the contract, because if the contract is intended to deliver a particular horse and dies before the time of delivery. See Contract Performance. 5. The written letter or article containing an agreement is also called an agreement and sometimes a contract article. (cf.) 6. It is fair to point out that there is a big difference between an agreement and the articles of the agreement, which are only proof of this. From the moment the parties have given their consent, the agreement or contract is concluded, and whether or not it can be proved, it is no less entitled to bind both parties. .