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, …

A contract arises when a promise gives rise to a legal duty. A promise is enforceable only if supported by adequate consideration, meaning something is exchanged to induce the promise.

The meaning of CONTRACT is a binding agreement between two or more persons or parties; especially : a legally enforceable agreement between two or more parties that creates in each …

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

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 …

Mar 1, 2024 · First, it will be helpful to define the term and answer the question, “What exactly is a contract?” A contract is a formal, legally binding agreement between two parties. This …

Aug 29, 2025 · A contract is a legally binding agreement between two or more parties (whether it’s people, companies, or other entities). This means that once both sides agree to it and sign, …

contract - A legally binding agreement made between two or more parties that creates duties and rights, and provides remedies for breaches of those duties

This term, in its more extensive sense, includes every description of agreement, or obligation, whereby one party becomes bound to another to pay a sum of money, or to do or omit to do a …

A written and signed contract creates an obligation between two or more parties to do or not do particular things, such as an exchange of money for goods or services provided.