Let us learn about the tort and contract before understanding the differences between them.
It is a set of promise/promises which is legally enforced between parties. These are enforceable if any party is affected or injured then they are allowed to access legal remedies.
A contract consists of offer, acceptance of offer and considerations and mutual agreements. According to contract law, it recognizes and governs rights and duties which arise from agreements or contracts between parties.
Some contracts can be orally binding. Formalities in most contracts are signing, entering date of signed contract
Tort is nothing but any wrongful act which leads to legal liability. It also infringes one’s right when they are in contract.
The major differences between tort and contract are as follows −
|1||Legal remedies allow a victim to recover from losses/injuries/damages.||It is a set of laws (a law which can be imposed).|
|2||Rights and obligations result from common law created by the court.||Rights and obligations result from agreement made between parties.|
|3||Duties determined by law.||Parties determine the duties.|
|4||Minors can be sued and damages are recovered.||Minors are limited in liability.|
|5||Privity must exist.||Privity is not needed or does not exist|