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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: Definition, Types, Essential Elements Lifecycle - Factor 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
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 is contract law? | University of Law Freedom of contract is a key part of contract law and means the parties involved are free to negotiate the terms of their agreement without external influence There are of course times when this can be limited, for example legal legislation could place limits on contractual freedom to prevent abuse, unfair treatment and inequality