contract | Wex | US Law | LII / Legal Information Institute
WebA 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 Definition & Meaning - Merriam-Webster
WebThe 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. …
Contract | Definition, History, & Facts | Britannica Money
WebApr 24, 2024 · contract, in the simplest definition, a promise enforceable by law. The promise may be to do something or to refrain from doing something. The making of a contract requires the mutual assent of two or more persons, one of them ordinarily making an offer and another accepting.
What is a Contract? | LegalMatch
WebAug 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.
Contract - Wikipedia
WebA contract is an agreement that specifies certain legally enforceable rights and obligations pertaining to two or more parties.
Contracts 101: What is a Contract? - Rocket Lawyer
WebSimply 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.
CONTRACT | English meaning - Cambridge Dictionary
WebCONTRACT definition: 1. a legal document that states and explains a formal agreement between two different people or…. Learn more.
Contracts 101: Definition, Types, Essential Elements & Lifecycle
WebWhat 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.
CONTRACT Definition & Meaning | Dictionary.com
Webnoun. an agreement between two or more parties for the doing or not doing of something specified. an agreement enforceable by law. the written form of an agreement enforceable by law. the division of law dealing with contracts.
CONTRACT | meaning - Cambridge Learner's Dictionary
WebB1. 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 …
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