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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 | 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
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 The activities and intentions of the parties entering into a contract may be referred to as contracting In the event of a breach of
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
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
What is a Contract: Everything You Should Know 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
The essential elements of a contract - Thomson Reuters Law Blog If you’re striking a bargain, coming to an agreement, or closing a deal, a contract is what cements the obligations, rights, and duties of all parties involved And even though contracts are infinitely varied in length, terms, and complexity, all contracts must contain these six essential elements