At first glance, Agreements and Deeds appear to be similar. Both
documents record and impose legally binding terms on the
contracting parties, and are frequently used to avoid the cost,
uncertainty and, often undesired, publicity associated with
judgments arising out of litigation.
However contractual requirements, methods of execution and time
limitations give rise to distinct differences, and parties should
be aware of these differences when drafting and executing
documents.
Consideration
Agreements are documents that set out ‘bargains’
made between parties where one party promises something to the
other party in exchange for something else (otherwise known as
consideration).
