Agreement and contract are related concepts in the realm of law, but they have distinct meanings and implications. Here are the key differences between the two:

1. Definition:

   - Agreement: An agreement is a mutual understanding or arrangement between two or more parties regarding a particular matter. It does not necessarily have to be legally binding.

   - Contract: A contract is a legally binding agreement between two or more parties that creates enforceable obligations. It must meet certain legal requirements to be considered valid and enforceable.

2. Enforceability:

   - Agreement: While an agreement represents a meeting of minds between parties, it may or may not be legally enforceable. Whether an agreement is legally binding depends on various factors, including the intention of the parties, the presence of consideration, and compliance with legal formalities.

   - Contract: A contract is inherently legally enforceable. It creates legally binding obligations on the parties involved, and failure to fulfill these obligations may result in legal consequences.

3. Legal Requirements:

   - Agreement: An agreement does not necessarily need to meet specific legal formalities to be valid. It can be oral or written and may be implied by the conduct of the parties.

   - Contract: For a contract to be valid and enforceable, it must meet certain legal requirements, including offer and acceptance, consideration, legal capacity of the parties, lawful object, and intention to create legal relations. Additionally, certain types of contracts, such as real estate transactions or agreements involving the sale of goods, may be subject to additional statutory requirements.

4. Intent:

   - Agreement: Parties may enter into agreements for various reasons, including informal arrangements, negotiations, or preliminary discussions. Not all agreements are intended to create legal obligations.

   - Contract: The primary purpose of a contract is to establish legally binding rights and obligations between parties. Contracts are typically used when parties intend to formalize their agreement and ensure legal certainty and enforceability.

5. Remedies for Breach:

   - Agreement: In the case of a breach of an agreement that is not legally binding, the injured party may have limited or no legal recourse, depending on the circumstances.

   - Contract: If a party breaches a contract, the non-breaching party may seek legal remedies, such as damages, specific performance, or injunctions, to enforce the terms of the contract and compensate for any losses incurred.

In summary, while both agreement and contract involve mutual understanding between parties, a contract is a specific type of legally binding agreement that meets certain legal requirements and creates enforceable obligations. An agreement, on the other hand, may or may not be legally binding and can range from informal arrangements to formal contracts.