The Biblical Covenant Verses a Contract
The covenant is a unilateral, irrevocable, indissolveable commitment valid at least until death. Covenants do not depend upon the performance of either party. Covenants are unilateral commitments made to another party in the presence of God and thus independent of the performance of the other party. A covenant was simply not broken, and if it ever were, the penalty was death.

A contract, on the other hand, is an entirely different concept. A contract is a bilateral agreement between two parties totally dependent upon performance of the agreement. Under a contract, if one party fails to perform according to the contract, the other party has no obligation to perform either and is no longer bound by the terms of the contract. This is not the case under a covenant which is totally independent of performance and is irrevocable.