Contracts are promises that the law will enforce. Contract law is generally governed by state common law , and while general overall contract law is common throughout the country, some specific court interpretations of a particular element of the contract may vary between the states.

Contracts are widely used in commercial law, and for the most part form the legal foundation for transactions across the world. Common examples include contracts for the sale of services and goods, construction contracts, contracts of carriage, software licenses, employment contracts, insurance policies, sales or leases of land, among others.

A contract is an agreement that creates a legal duty or responsibility. Learn more about written and oral contracts and how to make one.

2024年7月25日 · Contracts are legally binding agreements, and they pervade almost every aspect of our personal and business lives. If you own or manage a business, you've likely created or been handed agreements at least a handful of times.

2023年8月8日 · 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.

contract, shrink, condense, compress, constrict, deflate mean to decrease in bulk or volume. contract applies to a drawing together of surfaces or particles or a reduction of area or length. shrink implies a contracting or a loss of material and stresses a …

break (the terms of) a contract They could take legal action against you if you break (the terms of) the contract. draw up a contract My solicitor is drawing up (= writing) a contract. sign/enter into …

2025年1月8日 · contract, in the simplest definition, a promise enforceable by law. The promise may be to do something or to refrain from doing something. The making of a contract requires the mutual assent of two or more persons, one of them ordinarily making an …

2023年4月11日 · 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.

A contract is a legal agreement between two or more parties that specifies actions they will or will not take. Enforceable by law, a contract binds both parties to the terms of the agreement and may specify the consequences if these terms are violated. Not all contracts are written.