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DictionarycontractBinding agreement
noun / verb

contract

KAHN-trakt/ˈkɑːntrækt/

A legally binding agreement or the act of making one.

The two parties sign the same contract across the table.

Two adults sign same agreement document across small table, both pens and formal handshake after signing visible; plain ruled fields and signatures only, no contract title or explanatory text.
Etymology
conLatintogether
+tractLatinto draw, pull

“Drawing together” became a metaphor for making a bargain or agreement. The legal noun preserves that figurative sense rather than the physical sense of shrinking.

In context

Tim Fairley203:51
the contract is the legal tool that formalizes this agreement. When we say they formalize it, it means it's legally binding
The COMPLETE Guide to Construction Project Management

More examples

  • She contracted with a local firm for the repairs.
  • They have reviewed every clause of the contract.
  • The company is contracting to supply the equipment.

Forms

contract · contracts · contracted · contracting

contractual adjective — Relating to an agreement.

Similar words

agreement
A mutual understanding that need not be legally binding.
covenant
A formal promise or agreement, often concerning a particular duty.