Overview of Agreement Types: Agreements by Legal Status

This Skill Bit shows that contracts by legal status include Gentlemen’s Agreement, which is non-binding and based on trust. Binding Agreement is legally enforceable. Void Agreement lacks legal effect from the outset. Voidable Agreement is initially valid but can be voided. Unenforceable Agreement is valid but not court-enforceable. Illegal Agreement is prohibited by law. Future Agreement involves performance at a future date. Enforceability depends on terms and applicable laws.

Duration approx. 3 Min.

Tier: basics

A part of Essential Agreement Types: Purpose, Components, and Legal Implications course.