MANAGEMENT

Detailed explanation-1: -A contract is an agreement between parties, creating mutual obligations that are enforceable by law.

Detailed explanation-2: -A contract is a legally enforceable agreement between two or more persons. The agreement may be to do, or not do, something. It may be oral or written, or may be formed completely by conduct.

Detailed explanation-3: -A “binding contract” is any agreement that’s legally enforceable. That means if you sign a binding contract and don’t fulfill your end of the bargain, the other party can take you to court.

Detailed explanation-4: -A business contract is a legally binding agreement between two or more persons or entities. Contracts can be complex. It is important that you fully understand the terms of a contract before signing anything. You are advised to seek legal and professional advice first.