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What constitutes contract and what constitutes agreement. A valid contract is which of all essential components which present and in which the court would enforce as a legally binding promise.hat constitutes contract and what constitutes agreement. A valid contract is which of all essential components which present and in which the court would enforce as a legally binding promise.
Answer by Halinaleskiv. Confidence votes 100. An express contract is a contract in which the terms of the agreement are stated in words, (oral or written) while an implied-in-fact contract is a contract formed in whole or in part from the conduct of the parties. quasi-contract is not actually a contract but is instead a remedy. Also known as an implied-in-law contract, it is recognized in order to do justice under contract law, such â¦ as wherein the doctrine of promissory estoppel is applied.