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A contract is a legally binding agreement or relationship that exists between two or more parties to perform or terminate certain acts. A contract can also be defined as a legally binding exchange of promises between two or more parties that the law will enforce. In order for a contract to be concluded, it is necessary to make an offer, the acceptance of which must be taken into consideration. Both parties must intend to establish a legal relationship in a legitimate matter that must be freely registered and should be possible. An agreement is a form of referral between different parties, which can be written and oral and which is on the honour of the parties for their execution, instead of being enforceable in one way or another. All contracts are agreements, as there must be mutual understanding between two parties for a contract to be concluded. (b) Compensation for past voluntary service § 25 (2) in Sindha v.Abrahim-1895 Bombay: The promise to compensate without consideration is mandatory because of this exception. The exception also applies to a situation where the promise is to do something voluntary » (c) Promise to pay the prescribed debt: § 25 (3): The promise must be to pay all or part of a prescribed debt, that is, . . .