A contract is a written and signed agreement between two or more parties that is enforceable by law.

Name: A contract is a written and signed agreement between two or more parties that is enforceable by law.
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A contract can be either written or oral (with some exceptions) and still be enforceable by law; it does not necessarily have to be written and signed, although having a written contract can make enforcement and understanding of the agreement's terms easier.

A Contract Is a Written and Signed Agreement Between Two