Cambridge Dictionaries online Cambridge Dictionaries online

The most popular online dictionary and thesaurus for learners of English

English definition of “contract”

contract

noun [C]
 
 
/ˈkɒntrækt/
LAW a formal agreement between two people or companies, or a legal document that explains the details of this agreement: contract for sth The contract for the new drilling platform went to a Dutch company.contract to do sth He recently landed a contract to write a book about his expedition.contract with sb State agencies spent about $319 million on contracts with private vendors last year.contract between sb and sb It is a standard contract between a home seller and their agent. An independent contractor is legally responsible for job completion and, on quitting, becomes liable for breach of contract. draw up/write up a contract enter into/sign a contract be awarded/win/land a contract a long-term/short-term contract
FINANCE, STOCK MARKET a formal agreement relating to buying or selling a stock, currency, commodity, etc. for a particular price at a particular time: An option differs from a futures contract, in which both parties make a binding agreement to buy or sell currency at some point in the future.
be under contract LAW to have made a formal agreement with another person or company, and be legally responsible for doing what you have agreed to do: We're under contract to complete the job by the end of the year. PROPERTY if a building or property is under contract, the owner has officially agreed to sell it to a particular person for a particular price: Two of the site's 8000 sq ft commercial lofts are currently under contract.
(Definition of contract noun from the Cambridge Business English Dictionary © Cambridge University Press)
What is the pronunciation of contract?
Add Cambridge dictionaries to your browser to your website

Definitions of “contract” in other dictionaries

Word of the Day

see the light of day

When something sees the light of day, it appears for the first time.

Word of the Day

Highly delighted, bitterly disappointed, ridiculously cheap: adverbs for emphasis.

by Liz Walter,
October 22, 2014
We often make adjectives stronger by putting an adverb in front of them. The most common ones are very and, for a stronger meaning, extremely: He was very pleased. The ship is extremely large. However, we don’t use very or extremely for adjectives that already have a strong meaning, for example fantastic,

Read More 

life tracking noun

October 20, 2014
the use of one or more devices or apps to monitor health, exercise, how time is spent, etc.

Read More