Agreement in Business Agreement Business Law

Agreement Business LAW

Genuine Agreement Business Law Definition

Agreement in Business

Agreement
Section 2 (e) defines agreement as, "Every promise and every set fo pormises, forming the consideration for each other, is an agreement."
Section 2 (b) defines promise as, When the person to whom the proopsal is made signifies his assent there to , the proposal is said to be accepted. A proposal, when accpeted, becomes a promise.
A Promise is come into existence when one party makes a proposal to the other party gives consent. Therefore, a contract is an agreement, an agreement is a promise and a promise is an apecceoted proposal.