Contract law dictionary

Contract law is a body of law that governs, enforces, and interprets agreements related to an exchange of goods, services, properties, or money. According to contract law, an agreement made between two or more people or business entities, in which there is a promise to do something in return for a gain or advantage, is legally binding.Contract means an agreement between two or more parties creating obligations that are enforceable or otherwise recognizable at law. According to Merriam-Webster Dictionary: A contract in law is a binding agreement between two parties that is legally enforceable.contract 1) n. an agreement with specific terms between two or more persons or entities in which there is a promise to do something in return for a valuable benefit known as consideration.Group of laws that control oral or scripted agreements related to trade of commodities and services, properties and money.