Contract

Contract,

Definition of Contract:

  1. A voluntary, deliberate, and legally binding agreement between two or more competent parties. Contracts are usually written but may be spoken or implied, and generally have to do with employment, sale or lease, or tenancy.

    A contractual relationship is evidenced by (1) an offer, (2) acceptance of the offer, and a (3) valid (legal and valuable) consideration. Each party to a contract acquires rights and duties relative to the rights and duties of the other parties. However, while all parties may expect a fair benefit from the contract (otherwise courts may set it aside as inequitable) it does not follow that each party will benefit to an equal extent. Existence of contractual-relationship does not necessarily mean the contract is enforceable, or that it is not void (see void contract) or voidable (see voidable Contract). Contracts are normally enforceable whether or not in a written form, although a written contract protects all parties to it. Some contracts, (such as for sale of real property, installment plans, or insurance policies) must be in writing to be legally binding and enforceable. Other contracts (see implied in fact contract and implied in law contract) are assumed in, and enforced by, law whether or not the involved parties desired to enter into a contract.

  2. Enter into a formal and legally binding agreement.

  3. Decrease in size, number, or range.

  4. Become liable to pay (a debt).

  5. Catch or develop (a disease or infectious agent).

  6. A written or spoken agreement, especially one concerning employment, sales, or tenancy, that is intended to be enforceable by law.

Synonyms of Contract

OD, Abbreviate, Abridge, Abstract, Accept obligation, Accord, Acquire, Affair, Affiance, Afflict, Agree, Agree to, Agreement, Answer for, Arrangement, Attempt, Bag, Bang, Bar, Bargain, Bargain for, Barricade, Batten, Batten down, Be answerable for, Be brought down, Be felled, Be responsible for, Be security for, Be seized of, Be struck down, Be traumatized, Become engaged, Betroth, Bind, Binding agreement, Bob, Boil down, Bolt, Bond, Break out, Bring down, Bring on, Bring upon, Business, Button, Button up, Capsulize, Capture, Cartel, Catch, Catch cold, Cause, Choke, Choke off, Circumscribe, Clap, Clip, Close, Close up, Coarct, Collapse, Collective agreement, Come by, Come down with, Come in for, Come into, Commit, Commitment, Compact, Compress, Concentrate, Condense, Confine, Consolidate, Consortium, Constrict, Constringe, Contain, Contract an engagement, Convention, Corral, Corrugate, Covenant, Covenant of salt, Cover, Cramp, Crease, Crop, Curtail, Cut, Cut back, Cut down, Cut off short, Cut short, Deal, Decline, Decrease, Derange, Derive, Develop, Dicker, Diminish, Disorder, Do a deal, Dock, Drag down, Draw, Draw in, Draw together, Dwindle, Earn, Effort, Elide, Employment contract, Engage, Engagement, Enter into possession, Enterprise, Epitomize, Erupt, Fail, Fall in with, Fall into, Fasten, Fever, Fold, Fold up, Foreshorten, Formal agreement, Gain, Get, Go bail for, Go in, Go into shock, Harvest, Have an understanding, Incur, Indispose, Induce, Invite, Ironclad agreement, Key, Knit, Latch, Legal agreement, Legal contract, Lessen, Limit, Lock, Lock out, Lock up, Make, Make a deal, Minify, Mow, Mutual agreement, Narrow, Net, Nip, Obligate, Obligation, Obtain, Occlude, Operation, Overdose, Pact, Paction, Padlock, Plan, Plight, Plumb, Poll, Pollard, Preengagement, Procure, Program, Project, Promise, Proposition, Protocol, Prune, Publish the banns, Pucker, Pucker up, Pull down, Purse, Reap, Recap, Recapitulate, Recognizance, Reduce, Restrict, Retrench, Run, Run a temperature, Sack, Scale down, Score, Seal, Seal off, Seal up, Secure, Shake hands on, Shave, Shear, Shorten, Shrink, Shut, Shut the door, Shut up, Sicken, Sink, Slam, Snap, Snape, Snub, Solidify, Squeeze, Squeeze shut, Stipulate, Stipulation, Straiten, Strangle, Strangulate, Stunt, Succumb to, Sum up, Summarize, Synopsize, Take, Take ill, Take in, Take the vows, Taper, Task, Telescope, Transaction, Treaty, Trim, Troth, Truncate, Understanding, Undertake, Undertaking, Union contract, Upset, Valid contract, Venture, Verbal agreement, Wage contract, Weaken, Welcome, Win, Work, Wrinkle, Zip up, Zipper, Agreement, Commitment, Arrangement, Settlement, Undertaking, Understanding, Compact, Covenant, Pact, Bond, Undertake, Pledge, Promise, Covenant, Commit oneself, Engage, Incur, Become liable to pay, Acquire, Fall into, Shrink, Get smaller, Become smaller, Develop, Catch, Get, Pick up, Come down with, Become infected with, Fall ill with, Be taken ill with, Be struck down with, Be stricken with, Succumb to

How to use Contract in a sentence?

  1. The local authority will contract with a wide range of agencies to provide services.
  2. Three people contracted a killer virus.
  3. Both parties must sign employment contracts.
  4. He contracted a debt of $3,300.
  5. The inexperienced high school grad, perhaps too hastily, signed the contract on his expensive, new car - all without reading the fine print.
  6. The lawyer outlined the terms and conditions of the new companys contract with their supplier to ensure that both sides were benefiting from the arrangement.
  7. Any time you sign a contract you must make sure to follow through with it completely to keep your reputation in tact.
  8. Glass contracts as it cools.

Meaning of Contract & Contract Definition