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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 definition: 1. a legal document that states and explains a formal agreement between two different people or…. Learn more.

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.

A contract is an agreement (oral or written) that enable parties (individuals or businesses), businesses, and society to come together and collaborate towards their specific desires and needs. They are official agreements that are enforceable by law. In other words, a contract is a legal obligation.

Define contract. contract synonyms, contract pronunciation, contract translation, English dictionary definition of contract. n. 1. a. An agreement between two or more parties, especially one that is written and enforceable by law. b. The writing or document containing such an...

Feb 26, 2024 · In the world of Law, a Contract is an agreement between a person or a group of people that creates legal obligations. This is the process where one party makes an offer to another party & the other party accepts that offer. To be valid, a contract must meet the essential elements as mentioned in the Indian Contract Act, of 1872. Geeky Takeaways:

CONTRACT meaning: 1 : a legal agreement between people, companies, etc. often used before another noun; 2 : a document on which the words of a contract are written

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 …

Dec 25, 2024 · Definition of a Contract. At its core, a contract is an agreement between parties that is legally enforceable. The basic components of a contract include: Offer: One party presents terms or promises to another. Acceptance: The other party agrees to …

The new life insurance contract provided financial protection for her family in the event of her passing. He spent years studying contract law to understand the intricacies of business agreements.