What is the difference between a covenant and a contract?

The difference between a covenant and a contract is an important one to understand in Mississippi contract law. A covenant is an agreement to perform or not perform an action in the future and is usually less formal than a contract. A contract, on the other hand, is an agreement in which both parties agree to certain responsibilities or obligations and is legally enforceable. One key difference between a covenant and a contract is the legal remedies associated with them. A breach of contract will allow the injured party to sue for damages, whereas a breach of covenant may only result in an order to perform the promised action. Additionally, contracts are generally more binding than covenants, as the law outlines specific remedies and procedures that must be followed in the event of a breach. Another difference between a covenant and a contract is that covenants are typically used to define long-term relationships, such as a lease or deed to a property. Contracts, on the other hand, are used for short-term agreements, such as a purchase and sale of goods. Finally, covenants can be implied through the actions of the parties involved, whereas contracts must be in writing in order to be enforced in a court of law. In summary, while both covenants and contracts are agreements between parties, the legal remedies associated with them, the length of the relationship they govern, and the enforceability of them are important differences to note when considering contract law in Mississippi.

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