Contract and procurement department. How to use contract in a sentence. . Learn more. a legal document that states and explains a formal agreement between two different people or…. This agreement creates “mutual obligations that are enforceable by law. A handwritten contract to purchase real property on a napkin is acceptable if all the elements of a contract are met. The meaning of CONTRACT is a binding agreement between two or more persons or parties; especially : one legally enforceable. A contract typically involves consent [1] to transfer of goods, services, money, or promise to transfer any of those at a future date. CONTRACT definition: 1. Contract definition: an agreement between two or more parties for the doing or not doing of something specified. A contract is an agreement between two parties that creates an obligation to perform (or not perform) a particular duty. The terms of a contract are enforceable by law, with clearly defined penalties and remedies should the contract be breached. A legally enforceable contract requires the following elements, all of which are discussed in more detail below. Synonym Discussion of Contract. ” Jan 13, 2025 · If you want your contract to hold up in court, it must have six key elements—offer, acceptance, awareness, consideration, capacity, and legality. A contract is an agreement between parties, creating mutual obligations that are enforceable by law. 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. See examples of CONTRACT used in a sentence. 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 A contract is an agreement that specifies certain legally enforceable rights and obligations pertaining to two or more parties. 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. The use of email and text messages may also be acceptable under GOB § 5-701 (4). byxetzdd kxrse kscvdz wztdex gutgrk vku sxupx rokxzl krv inxpa