What is common and different between a deal and a contract?

The difference between a contract and a deal. Let’s start with the differences, which are as follows: As already mentioned, a contract and a transaction are general and specific, that is, any contract is a transaction, but not every transaction is a contract. A transaction can be characterized by both a plurality of parties, which makes it akin to an agreement, or unilateralism. Similarities Between Contract and Deal. The deal and the contract can be similar: in form. Both the transaction and the contract can be concluded orally or in writing. Contract, agreement and contract are types of transactions, with various features mentioned above. In fact, these terms are synonyms and have similar characteristics.