What is the difference between a contract and an agreement?

To understand what the contract differs fromtreaty, you need to look into the very essence of these concepts. The word "contract" means an agreement, a condition, a mutual obligation between specific two or more parties. It can be agreed either verbally or in writing. "Contract" in Latin means "transaction", which consists only in writing, and it can be concluded by the parties, which clearly describe the obligations between themselves.

Contract and contract: differences

Very often the concept of "contract" and "contract"are used in labor legislation and in labor relations. It is from this point of view that we will consider the essence of these terms further. To understand the difference between an employment contract and a contract, let us consider the interpretation of these terms by labor legislation.

When hiring a labor contract is concludedonly for an indefinite period of time. During this agreement, it can be drafted either verbally or in writing, and in both cases the contract discusses the list of duties and the employee and the employer. In a particular company, the employment contract is based on a certain standard, the basis of which is based on the labor legislation of the country.

When it is necessary to conclude an agreement between twoparties for a certain period (1-5 years), it is necessary to use only a labor contract. It is drawn up exclusively in writing and can be extended upon the expiration of the term by agreement of its parties. On the employer's intention to terminate further cooperation at the end of the contract, the employee must be notified within two weeks. It should be noted that the employee has the right to demand compensation in the event that employers sever their labor relations between them before the contract expires. In this document, as well as in the contract, the working conditions, rights and duties, position, employee and employer are described.

It should be remembered that the difference between the treaty and thecontract consists of options for severing the relationship between the employee and the employer. So the contract can be broken by either party, however the contract is only broken by the employer.

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What is the difference between a contract and an agreement

What is the difference between a contract and an agreement

What is the difference between a contract and an agreement

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