Definition of Contract
Definition Last Updated 17-Dec-2015 12:51
A contract is a kind of agreement (i.e. the mutual commitment of two or more parties) to adopt specific policies, whose form is in accordance with other policies (including laws) that typically govern the enforceability of commitments, recourse for non-compliance (breach of contract), processes for the resolution of disputes, etc., and the mutual commitments entered into typically include financial remuneration to one party for providing goods or services to another.
Article Last Updated 17-Dec-2015 12:51
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