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  1. Dictionary
    Con·tract

    noun

    • 1. a written or spoken agreement, especially one concerning employment, sales, or tenancy, that is intended to be enforceable by law: "both parties must sign employment contracts"

    verb

    • 1. decrease in size, number, or range: "glass contracts as it cools" Similar shrinkget smallerbecome smallerdecreaseOpposite expandincrease
    • 2. enter into a formal and legally binding agreement: "the local authority will contract with a wide range of agencies to provide services" Similar undertakepledgepromisecovenant
  2. Contract definition: an agreement between two or more parties for the doing or not doing of something specified. See examples of CONTRACT used in a sentence.

  3. contract - A legally binding agreement made between two or more parties that creates duties and rights, and provides remedies for breaches of those duties.

  4. Simply put, a contract is an agreement between two or more people or entities that creates a legal duty or responsibility. Entities entering a contract might include individual people, companies, corporations and organizations, but there are a few conditions that must be met for the contract to hold water in the courtroom.

  5. Definition of contract noun in Oxford Advanced Learner's Dictionary. Meaning, pronunciation, picture, example sentences, grammar, usage notes, synonyms and more.

  6. Mar 1, 2024 · A contract is a formal, legally binding agreement between two parties. This agreement creates “mutual obligations that are enforceable by law.” In most cases, contact law calls for this agreement to be expressed with an offer, and then several other elements must be satisfied to complete the process.

  7. What Is a Contract? | Introduction to Business. Learning Outcomes. Definecontract” Identify the four elements of a legally enforceable contract.

  8. The Business Law and the Legal Environment authors define contract as “a legally enforceable agreement,” noting that while we make a number of casual promises (e.g., “I’ll call you later”) and formal commitments in the course of a day, these agreements do not necessarily constitute a valid contract.

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