Here are five key points differentiating an agreement from a contract:

1. **Nature**: An agreement is a mutual understanding or arrangement between parties, which may or may not be legally binding. A contract, however, is a specific type of agreement that is legally enforceable.

2. **Enforceability**: Agreements may or may not be enforceable by law, depending on various factors such as intention, consideration, and legality of purpose. Contracts, on the other hand, are enforceable by law as they meet all the legal requirements.

3. **Formality**: Agreements can be informal and oral, while contracts often require a higher degree of formality, such as being in writing and signed by the parties involved.

4. **Elements**: While both agreements and contracts involve mutual consent, contracts have specific elements that must be present to be legally enforceable, including offer, acceptance, consideration, legality of purpose, and capacity of the parties.

5. **Remedies**: In case of a breach, agreements generally provide fewer legal remedies compared to contracts. Contracts offer various remedies such as damages, specific performance, or rescission to compensate the injured party.