A contract is a voluntary arrangement between two or more parties that is enforceable at law as a binding legal agreement.
Each contractual party must be a "competent person" having legal capacity. The parties may be natural persons ("individuals") or juristic persons ("corporations"). An agreement is formed when an "offer" is accepted. The parties must have an intention to be legally bound; and to be valid, the agreement must have both proper "form" and a lawful object. In England (and in jurisdictions using English contract principles), the parties must also exchange "consideration" to create a "mutuality of obligation," as in Simpkins v Pays.
A contract is often evidenced in writing or by deed, but a valid contract may (with some exceptions) be made orally or even by conduct. Remedies for breach of contract include "damages" (monetary compensation for loss) and, for serious breaches only, "repudiation" (i.e. cancellation). The equitable remedy of specific performance, enforceable through an injunction, may be available if damages are insufficient.
A contract is a "promise" or an "agreement" made of a set of promises, the breach of which is recognized by the law and for which legal remedies can be provided.
Contract may also refer to:
Contract is a 2008 bollywood, parallel cinema, in the backdrop of terrorism written and directed by Ram Gopal Varma. Starring Adhvik Mahajan, and Zakir Hussain in pivotal roles, the film received mixed reviews.
The story revolves around an ex-Special Protection Group Commando Amaan Malik, whose wife and daughter are killed in a Jihad inspired terrorist attack. Indian Agents working with the RAW of India, approach Amaan to collaborate with him to hunt the mastermind Sultan responsible for these serial attacks in Mumbai. Sultan, is executing another mission of serial blasts including a Government Hospital in Mumbai. Supported with Intelligence Bureau (India), how Amaan is able to infiltrate the underworld gangs to reach Sultan, the Chief Mentor forms the rest of the plot.