what is a contract?

Over 1M Answers AvailableCategory: Businesswhat is a contract?
Angelmimi asked 1 year ago
1 Answers
Angelmimi answered 1 year ago

A contract is a voluntary, deliberate, and legally binding agreement between two or more competent parties. In the business environment, a contract will usually be between two business organizations or between two parties. Although contracts are often written documents, they can also be verbal or implied in a business transaction between two parties.
In doing business, contracts are generally related to employing a worker, selling or buying goods and services, leasing a business premise or equipment