contract

contract
An agreement between two or more persons which creates an obligation to do or not to do a particular thing.
As defined in Restatement, Second, Contracts No. 3:
"A contract is a promise or a set of promises for the breach of which the law gives a remedy, or the performance of which the law in some way recognizes as a duty."
A legal relationship consisting of the rights and duties of the contracting parties; a promise or set of promises constituting an agreement between the parties that gives each a legal duty to the other and also the right to seek a remedy for the breach of those duties. Its essentials are competent parties, subject matter, a legal consideration, mutuality of agreement, and mutuality of obligation. Lamoureux v. Burrillville Racing Ass'n, 91 R.I. 94, 161 A.2d 213, 215.
Under U.C.C., term refers to total legal obligation which results from parties' agreement as affected by the Code. Section 1-201(11).
As to sales, "contract" and "agreement" are limited to those relating to present or future sales of goods, and "contract for sale" includes both a present sale of goods and a contract to sell goods at a future time.
U.C.C. No. 2-106(1).
The writing which contains the agreement of parties, with the terms and conditions, and which serves as a proof of the obligation. Contracts may be classified on several different methods, according to the element in them which is brought into prominence. The usual classifications are as follows:
See also
- alteration of contract
- breach of contract
- collateral contract
- investment contract
- literal contract
- oral contract
- parol evidence rule
- privity (privity of contract)
For "liberty of contract",

Black's law dictionary. . 1990.

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Synonyms:
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Look at other dictionaries:

  • contract — con·tract 1 / kän ˌtrakt/ n [Latin contractus from contrahere to draw together, enter into (a relationship or agreement), from com with, together + trahere to draw] 1: an agreement between two or more parties that creates in each party a duty to… …   Law dictionary

  • Contract — • The canonical and moralist doctrine on this subject is a development of that contained in the Roman civil law. In civil law, a contract is defined as the union of several persons in a coincident expression of will by which their legal relations …   Catholic encyclopedia

  • CONTRACT — (Heb. חוֹזֶה, ḥozeh), in general law theory a legally binding agreement between two or more parties, in terms of which one party undertakes for the benefit of the other to perform or refrain from a certain act. As such, contract is the main… …   Encyclopedia of Judaism

  • contract — CONTRACT. s. m. Paction, convention, traitté entre deux, ou plusieurs personnes portant obligation des contractants l un. envers l autre. Contract de bonne foy. contract civil. contract verbal, ou par parole. Contract par escrit. contract de… …   Dictionnaire de l'Académie française

  • contract — CONTRÁCT, contracte, s.n. Acord încheiat, ca urmare a înţelegerii intervenite între două sau mai multe persoane (fizice sau juridice), pentru crearea, modificarea sau stingerea (stinge) unor drepturi şi obligaţii în relaţiile dintre ele; act,… …   Dicționar Român

  • contract — [kän′trakt΄] for n. & usually for vt.1 & vi.1 [; kən trakt′] for v. generally n. [OFr < L contractus, pp. of contrahere, to draw together, make a bargain < com , together + trahere, to DRAW] 1. an agreement between two or more people to do… …   English World dictionary

  • Contract — Con*tract (k[o^]n*tr[a^]kt ), v. t. [imp. & p. p. {Contracted}; p. pr. & vb. n. {Contracting}.] [L. contractus, p. p. of contrahere to contract; con + trahere to draw: cf. F. contracter. See {Trace}, and cf. {Contract}, n.] 1. To draw together or …   The Collaborative International Dictionary of English

  • Contract J.A.C.K. — Contract J.A.C.K. Developer(s) Monolith Productions Publisher(s) …   Wikipedia

  • contract — n Contract, bargain, compact, pact, treaty, entente, convention, cartel, concordat designate an agreement reached after negotiation and ending in an exchange of promises between the parties concerned. Contract applies especially to a formal… …   New Dictionary of Synonyms

  • Contract J.A.C.K. — Contract J.A.C.K. Éditeur Sierra Entertainment Développeur Monolith Productions Date de sortie 11 novembre 2003 Genre FPS Mode de jeu Un joueur …   Wikipédia en Français

  • contract — Contract, Pactum, Contractus. Contracts et conventions redigées par escrit, Perscriptitiones, Syngraphae. Quand un tiers escrit un contract et obligation que deux autres sont ensemble, Syngraphum conscribere. Faire contracts et paction de quelque …   Thresor de la langue françoyse

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