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1. Dictionary

   contract

   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"
   • ▪ the branch of law concerned with the making and observation of contracts: "the law of contract"
   • ▪ an arrangement for someone to be killed by a hired assassin: "smuggling bosses routinely put out contracts on witnesses"
   • ▪ the declarer's undertaking to win the number of tricks bid with a stated suit as trumps: "South can make the contract with correct play"
   • ▪ a formal agreement to marry: "the contract between the Bride and the Bridegroom was renewed"

   verb

   • 1. decrease in size, number, or range: "glass contracts as it cools" Similar shrinkget smallerbecome smallerdecreasediminishreducedwindledeclineshrivelOpposite expandincrease
   • ▪ (of a muscle) become shorter and tighter in order to effect movement of part of the body: "the heart contracts about seventy times a minute" Similar tightenbecome/make tightertenseflexconstrictdraw inbecome/make narrowernarrowwrinkleknitcreasecorrugatepursepuckerOpposite relax
   • ▪ shorten (a word or phrase) by combination or elision: "these sources were called" Similar shortenabbreviatecutreduceabridgetruncateOpposite expandlengthen
   • 2. enter into a formal and legally binding agreement: "the local authority will contract with a wide range of agencies to provide services" Similar undertakepledgepromisecovenantcommit oneselfengageagreeenter into an agreementreach an agreementmake a dealnegotiate a deal
   • ▪ choose to be involved in (a scheme): British "politically committed members contract into paying the levy"
   • ▪ choose to withdraw from or not become involved in a scheme: British "plans to encourage people to contract out of the pension scheme"
   • ▪ secure specified rights or undertake specified obligations in a formal and legally binding agreement: "a buyer may contract for the right to withhold payment" Similar undertakepledgepromisecovenantcommit oneselfengageagreeenter into an agreementreach an agreementmake a dealnegotiate a deal
   • ▪ impose an obligation on (someone) to do something by means of a formal agreement: "health authorities contract a hospital to treat a specific number of patients"
   • ▪ arrange for work to be done by another organization: "local authorities will have to contract out waste management"
   • ▪ formally enter into (a marriage): "kings obtained dispensations to enable them to contract politically advantageous matches"
   • ▪ enter into (a friendship or other relationship): "the patterns of social relationships contracted by men and women differ"
   • 3. catch or develop (a disease or infectious agent): "three people contracted a killer virus" Similar developcatchgetpick upcome down withbecome infected withfall ill withbe taken ill withbe struck down withbe stricken withsuccumb togo down withinformal:take ill withtake sick with
   • 4. become liable to pay (a debt): "he contracted a debt of £3,300" Similar incurbecome liable to payacquirefall intorun up

   Word Origin Middle English: via Old French from Latin contractus, from contract- ‘drawn together, tightened’, from the verb contrahere, from con- ‘together’ + trahere ‘draw’.

   Derivatives

   • 1. contractee noun
   • 2. contractive adjective

   Scrabble Points: 12

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2. businessjargons.com › contractWhat is Contract? definition, elements and types - Business ...

   businessjargons.com › contract

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   Definition: The term contract is defined as an agreement between two or more parties which has a binding nature, in essence, the agreement with legal enforceability is said to be a contract. It creates and defines the duties and obligations of the parties involved.

3. en.wikipedia.org › wiki › ContractContract - Wikipedia

   en.wikipedia.org › wiki › Contract

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   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.

4. www.legalmatch.com › what-is-a-contractWhat is a Contract? | LegalMatch

   www.legalmatch.com › what-is-a-contract

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   Aug 8, 2023 · A contract is an agreement between two private parties that creates mutual legal obligations for the parties to the contract. Contracts can be in an oral form or a written form. However, it is important to note that an oral contract is more challenging to enforce and should be avoided when possible.

5. Videos

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6. www.lexisnexis.co.uk › legal › glossaryContract Definition | Legal Glossary | LexisNexis

   www.lexisnexis.co.uk › legal › glossary

   A contract is a legally binding promise (oral or in writing) by one person to fulfil an obligation to another person in return for consideration. A binding contract comprises four elements: offer, acceptance, consideration and intention to create legal relations.

7. www.contractscounsel.com › b › define-contractDefine Contract: What is a Contract? - Contract Lawyers

   www.contractscounsel.com › b › define-contract

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   • 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

   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...

   See full list on contractscounsel.com

   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 ...

   See full list on contractscounsel.com

   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...

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   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...

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   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...

   See full list on contractscounsel.com

   Post a projectin ContractsCounsel’s marketplace to get flat fee bids from lawyers to draft and review contract. All lawyers in our network are vetted by our team and peer reviewed by our customers for you to explore before hiring.

   See full list on contractscounsel.com

8. www.factor.law › insights › contracts-101-definitionContracts 101: Definition, Types, Essential Elements & Lifecycle

   www.factor.law › insights › contracts-101-definition

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   What are contracts? 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. Common types of contracts.

9. www.contractscounsel.com › b › what-is-a-contractWhat is a Contract: Everything You Should Know - Contract Lawyers

   www.contractscounsel.com › b › what-is-a-contract

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   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. The terms of a contract are enforceable by law, with clearly defined penalties and remedies should the contract be breached.