Aren't they just contracts? The differences between deeds and agreements

Key Points:

A deed is a special type of binding promise or commitment to do something.

You may have noticed that some formal commercial documents are called an "agreement" while others are a "deed". Ever wondered what the difference is? Are they just different names for a contract, or do they have different requirements and effect?

In this article we'll briefly discuss what a deed is, how deeds are executed and the key differences between deeds and agreements, and then give you some practical tips on how to avoid confusing the two.

What is a deed?

A deed is a special type of binding promise or commitment to do something. The substantial requirement of a deed is that it be intended by the executing party to be the most serious indication to the community that she or he really means to do what has been agreed between the parties.