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CONTRACT Definition Meaning - Merriam-Webster The meaning of CONTRACT is a binding agreement between two or more persons or parties; especially : one legally enforceable How to use contract in a sentence Synonym Discussion of Contract
Contract - Wikipedia A contract is an agreement that specifies certain legally enforceable rights and obligations pertaining to two or more parties A contract typically involves consent [1] to transfer of goods, services, money, or promise to transfer any of those at a future date
contract | Wex | US Law | LII Legal Information Institute A contract is an agreement between parties, creating mutual obligations that are enforceable by law The basic elements required for the agreement to be a legally enforceable contract are: mutual assent, expressed by a valid offer and acceptance; adequate consideration; capacity; and legality
What is Contract? definition, elements and types - Business Jargons Definition: The term contract is defined as an agreement between two or more parties which has a binding nature, in essence, the agreement with legal enforceability is said to be a contract It creates and defines the duties and obligations of the parties involved
What is a Contract? - LegalMatch 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
Contracts 101: What is a Contract? - Rocket Lawyer A contract is an agreement that creates a legal duty or responsibility Learn more about written and oral contracts and how to make one You might be aware of the textbook definition of a legal contract, but do you know how it applies in an everyday setting?
What is a Contract: Everything You Should Know - Contract Lawyers What is a Contract? A contract is either a written or spoken agreement between two or more parties that includes terms and conditions, which creates a legal obligation The terms of a contract are enforceable by law, with clearly defined penalties and remedies should the contract be breached
What Defines a Contract? | Business Contracts Office | UTSA . . . A contract is an agreement between two parties that creates an obligation to perform (or not perform) a particular duty A legally enforceable contract requires the following elements, all of which are discussed in more detail below