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A contract is an agreement that specifies certain legally enforceable rights and obligations pertaining to two or more parties.
Aug 8, 2023 · A contract is an agreement between two private parties that creates mutual legal obligations for the parties to the contract. Contracts can be in an oral form or a written form. However, it is important to note that an oral contract is more challenging to enforce and should be avoided when possible.
a legal document that states and explains a formal agreement between two different people or groups, or the agreement itself: a contract of employment. a temporary / building contract. break (the terms of) a contract They could take legal action against you if you break (the terms of) the contract.
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.
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.
Apr 11, 2023 · What are contracts? Contracts are legally binding agreements. They outline the terms and conditions of the agreement (such as the goods or services being exchanged), the responsibilities and obligations of each party and the consequences of non-compliance. Common types of contracts.
Add to word list. B1. a legal agreement between two people or organizations, especially one that involves doing work for a particular amount of money. Examples. a legally binding contract. a lucrative contract. I don't remember signing a contract. They have to provide a contract by law.
