What is the definition of a contract?

A contract is defined as a written agreement, particularly one that pertains to employment, sales, or other transactions, with the intention of being enforceable by law. This definition captures the essence of a contract, which is that it functions as a formalized commitment between parties that creates legal obligations. It indicates that both parties have agreed to specific terms and conditions, which can be upheld in a court of law if necessary.

This enforceability aspect is crucial; it distinguishes a contract from informal agrees or discussions, where parties may not have any legal recourse in the event of a dispute. A contract must involve clear terms outlined in writing that reflect the parties' intentions, making it a fundamental document in legal and business practices.

In contrast, other choices, like a verbal agreement without legal obligations or an informal discussion, do not establish the binding nature typical of a contract. Similarly, a temporary arrangement for service does not encompass the comprehensive legal framework that a contract typically implies. Thus, the definition provided highlights both the written and enforceable components essential to the concept of a contract.