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CONTRACT definition: 1. a legal document that states and explains a formal agreement between two different people or…. Learn more.
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.
A contract is an agreement that specifies certain legally enforceable rights and obligations pertaining to two or more parties. A contract typically involves the transfer of goods, services, money, or a promise to transfer any of those at a future date.
Jul 6, 2018 · A. Singapore contract law largely based on English contract law. 8.1.1 Contract law in Singapore is largely based on the common law of contract in England. Hence, the rules developed in the Singapore courts do bear a very close resemblance to those developed under English common law.
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 lucrative contract. I don't remember signing a contract. They have to provide a contract by law.
Apr 11, 2023 · 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.
Contract definition: an agreement between two or more parties for the doing or not doing of something specified.. See examples of CONTRACT used in a sentence.
A 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.
Simply 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. noun. /ˈkɒntrækt/. /ˈkɑːntrækt/. an official written agreement. All employees have a written contract of employment. a research/modelling/recording contract. a lucrative government contract. contract with somebody to enter into/negotiate/sign a contract with the supplier.
