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What is the difference between a contract, deed and a covenant?

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A contract is an agreement legally enforceable against at least two people, in writing or otherwise.

A deed is a formal document conveying an interest in real property from one party to another.

A covenant is most typically going to refer to a condition that is part of either of those transactions, such as a contractual covenant not to compete or a deed covenant to use property in a certain way.

  • Thank you. Is “consideration” mandatory for a contract? – Ben Sep 8 '18 at 19:16
  • Consideration is necessary for a contract, though some agreements may be enforced as though they were contracts despite the absence of a consideration. – bdb484 Sep 8 '18 at 19:20
  • Thank you. Does consideration need to be monetary? – Ben Sep 9 '18 at 11:34
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    No, it does not. – bdb484 Sep 9 '18 at 12:41
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    @bdb484 A deed can also give effect to an agreement (like a contract) in the absence of consideration by one party. – Dale M Sep 10 '18 at 5:22
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You may want to search for these words in the Black's Law Dictionary. That legal dictionary is a very useful starting point for when one needs to do legal research.

After reading the definitions, feel free to ask about any specific details that might remain unclear to you.

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