11:19
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Simple English definitions for legal terms
written contract
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A quick definition of written contract:
A written contract is a document that shows an agreement between two or more people. It creates rules that they have to follow and can be enforced by the law. The contract can be about anything, like buying a car or doing a job. It's important to read and understand the contract before signing it because it's a promise that you have to keep.
A more thorough explanation:
A written contract is a legal agreement between two or more parties that creates obligations that can be enforced by law. It is a document that sets forth the terms and conditions of the agreement.
For example, if you hire a contractor to renovate your home, you may sign a written contract that outlines the scope of work, the timeline, and the payment terms. This contract is a binding agreement that both parties must follow.
Another example is when you sign a lease agreement with your landlord. The lease is a written contract that outlines the terms of your tenancy, including the rent amount, the length of the lease, and any restrictions on the use of the property.
These examples illustrate how a written contract is a legally binding agreement that sets forth the terms and conditions of a transaction or relationship between two or more parties.