noun a written or spoken agreement, especially one concerning employment, sales, or tenancy, that is intended to be enforceable by law
verb to enter into a formal and legally binding agreement
In real estate, contracts are used to formalize the purchase or rental agreements between buyers, sellers, landlords, and tenants.
In the legal field, a contract is a legally binding agreement between two or more parties that outlines the terms and conditions of their relationship.
In the construction field, contracts are essential for outlining the scope of work, timelines, and payment terms between contractors and clients.
In the business field, a contract is often used to formalize agreements between companies, suppliers, clients, and employees.
In freelancing, contracts are commonly used to establish the terms of a project, including deliverables, payment terms, and deadlines.
A writer may sign a contract with a publishing company to publish their work.
A psychologist may have a contract with a clinic or hospital to provide therapy services.
An actor may sign a contract with a production company for a role in a movie or TV show.
A software developer may have a contract with a tech company to develop a new software product.
A consultant may sign a contract with a client to provide advisory services for a specific project.