contract noun - definition in the Business English Dictionary - Cambridge Dictionaries Online (US)

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English definition of “contract”

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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.
Translations of “contract”
in Korean 계약…
in Arabic عَقْد…
in Portuguese contrato…
in Catalan contracte…
in Japanese 契約…
in Italian contratto…
in Chinese (Traditional) 合同, 契約…
in Russian контракт, договор…
in Turkish sözleşme, mukavele…
in Chinese (Simplified) 合同, 契约…
in Polish umowa, kontrakt…
(Definition of contract noun from the Cambridge Business English Dictionary © Cambridge University Press)
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