The contract
Example: Contract defines legal terms for financial agreements between parties
Definition
"The contract" is a legally binding document that outlines the terms and conditions agreed upon by parties involved in financial transactions or agreements, ensuring that each party's rights and obligations are clearly defined and enforceable by law.
Etymology
The word "contract" comes from the Latin 'contractus,' meaning 'drawn together' or 'agreement.' It evolved through Old French before entering English, emphasizing the idea of parties coming together to form an agreement. Did you know contracts have been used since ancient times to formalize business and legal commitments?
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"The contract" appears in the Vocaplus list "English - Finance - (A1-C2) - set 1", containing 150 commonly used words.
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