What agreements are contracts. 11. This module guide is designed to help you to study the Contract law of England and Wales.A contract is an agreement that specifies certain legally enforceable rights and obligations pertaining to two or more parties. Social, moral or religious agreements do not create any legal obligation. The court stated that a joint venture must be based on an express or implied agreement and is a question of law for the court. President Biden and Prime Minister Modi affirm that technology will play the defining role in deepening our partnership.