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When you and someone else have agreed on something and that agreement is both binding and enforceable by law, you have a contract. When you rent an apartment, you and your future landlord sign a rental contract.
A contract is an accepted proposal (agreement) that is fully understood by the law and is legally defined or enforceable by the law. So a contract is a legal document that bestows upon the party’s special rights (defined by the contract itself) and also obligations that are introduced, defined, and agreed upon by all the parties of the contract.
CONTRACT meaning: 1. a legal document that states and explains a formal agreement between two different people or…. Learn more.
to enter into an agreement with (a person, company, etc) to deliver ( goods or services) or to do (something) on mutually agreed and binding terms, often in writing. 3. to draw or be drawn together; coalesce or cause to coalesce. 4. (transitive) to acquire, incur, or become affected by (a disease, liability, debt, etc)
[intransitive, transitive] to become less or smaller; to make something become less or smaller Glass contracts as it cools. The universe is expanding rather than contracting. a contracting market The heart muscles contract to expel the blood. contract something The exercise consists of stretching and contracting the leg muscles. contract something to something “I will” is usually ...
CONTRACTING definition: 1. present participle of contract 2. to make or become shorter or narrower or generally smaller in…. Learn more.
contract in American English. ( noun & adjective and usually for v. 16–18, 22, 23 ˈkɑntrækt, otherwise v. kənˈtrækt) noun. 1. an agreement between two or more parties for the doing or not doing of something specified. 2. an agreement enforceable by law.
