What Is The Difference Between A Deed And An Agreement

When asked whether a document is an act or an agreement, the courts have concluded that it depends on whether the person performing the act intended the document to be immediately binding on that person. If that was the intention, the court is more likely to find that the document is an act rather than an agreement. Many people do not know that contracts and facts are subject to very different limitation periods. The limitation period for initiating legal proceedings for breach of contract is 6 years from the date of the infringement (or the date on which the plea arises), while a fact has a limitation period of 12 years. It is a basic principle of modern contract law that there must be a binding agreement: in short, a fact is a particular type of binding promise or commitment to do something.