contracts

[ˈkɒntrækts]

contracts Definition

  • 1a written or spoken agreement that is intended to be enforceable by law, especially one that relates to employment, sales, or tenancy, and that typically involves the exchange of money.
  • 2reduce in size by drawing together; shrink.

Using contracts: Examples

Take a moment to familiarize yourself with how "contracts" can be used in various situations through the following examples!

  • Example

    The company signed a contract with a new supplier.

  • Example

    The landlord and tenant signed a rental contract.

  • Example

    The athlete's contract with the team expires next year.

  • Example

    The sweater contracts when washed in hot water.

  • Example

    The metal contracts as it cools.

contracts Synonyms and Antonyms

Phrases with contracts

  • failure to fulfill the obligations of a contract

    Example

    The company was sued for breach of contract.

  • verbal contract

    an agreement made through spoken communication rather than a written document

    Example

    They had a verbal contract, but it was difficult to prove in court.

  • fixed-term contract

    a contract that is valid for a specific period of time

    Example

    The employee was hired on a fixed-term contract for six months.

📌

Summary: contracts in Brief

A 'contract' [ˈkɒntrækts] is a legally binding agreement between two or more parties, often involving the exchange of money. It can relate to employment, sales, or tenancy. The term also refers to the act of shrinking or reducing in size, as in 'The sweater contracts when washed in hot water.'