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- Dictionarycontract
noun
- 1. a written or spoken agreement, especially one concerning employment, sales, or tenancy, that is intended to be enforceable by law: "he has just signed a contract keeping him with the club"
verb
- 1. decrease in size, number, or range: "glass contracts as it cools" Similar Opposite
- 2. enter into a formal and legally binding agreement: "the local authority will contract with a wide range of agencies to provide services" Similar
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A contract is an agreement between two or more parties that has legal enforceability and creates duties and obligations. Learn about the essential elements of a contract, such as offer, acceptance, consent, consideration, and lawful object, and the different types of contracts based on validity, formation, and performance.
- Contract Definition
- Required Elements For A Contract
- Different Types of Contracts
- Examples of Contracts
- When Do I Need A Contract Lawyer?
- Getting Help with Contracts
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A contract is an agreement, either written or spoken, between two or more parties that creates a legal obligation. The terms of a contract are enforceable by law, with clearly defined penalties and remedies should the contract be breached. A breach of contractis a failure, without legal excuse, to perform any parts of the contract. In some cases, a...
A contract must contain six essential elements in order to be enforceable: 1. Offer. A promise by one party to another that they will or will not perform a specific action in the future. Example: I will pay you $3,500 for the purchase of your vehicle. 2. Acceptance. Usually mirrors the terms of the offer—an expression, through words or deeds, that ...
Contracts are everywhere. You are probably using one or more contracts in your everyday life and do not even realize it. Following are some types of contracts used in our everyday lives. 1. Your lease agreementor mortgage 2. Terms and conditionsof your credit card 3. Employment contracts 4. Rental car company contracts 5. Service contractwhen you s...
Listed below are examples of contracts. 1. Bill of Sale. A bill of sale clearly outlines the basics of a sales agreement, such as the involved parties, the agreed upon price, and the terms of the deal. This type of contract will also prove the legal owner’s identity. 2. Promissory Note. A promissory note is the legal version of an IOU and allows so...
Hiring a contract lawyer is not always necessary, however, before signing a business contract, always have a lawyer look it over and confirm that you are getting what you expected. This is especially true for contracts that involve significant rights, obligations, and financial implications. The lawyer should go over all the contract clauses before...
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Learn the definition, elements, types, and examples of contracts, and when to hire a contract lawyer. ContractsCounsel is a platform that connects businesses with lawyers for contract review and negotiation.
Learn the meaning of contract as a noun and a verb in English, with synonyms, antonyms, and related words. Find out how to use contract in different contexts, such as law, business, finance, and health.
Learn the various meanings and uses of the word contract as a noun, verb, and adjective. Find synonyms, examples, etymology, and related phrases for contract.
Contract law. 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 ...
Learn the meaning, pronunciation and usage of the word contract as a noun in English. Find out the different types, clauses, terms and expressions related to contracts with examples and pictures.
Learn the various meanings and uses of the word contract as a noun, adjective, and verb. Find synonyms, antonyms, idioms, and examples of contract in different contexts.
