Contract Short Form is Contr
Contract short form is Contr. There are various types of contract short forms available in the world in various fields of life. Some of the common short forms are given below:
|K||Law, Legal, Military|
|Contr||Construction, Drawing, Technology|
The contract is the legally binding written or spoken agreement that included or defined the rights and duties of all stakeholders. The contract is made for two things one reason is to do something and second thing is to refrain from something.
Difference Between Agreement and Contract
It is any understanding or arrangement reached between two or more parties. All agreements are not considered a contract because all agreements are not enforced by law. So that an agreement becomes a contract when it is enforceable by law.
It is a specific type of agreement that, by its terms and elements, is legally binding and enforceable in a court of law. But contracts that are against the law are considered illegal contracts. Anyone can write a contract so there is no need for any specific lawyer but it is a good practice to write a contract from any lawyer.
Elements of Contract
Every contract is based on some elements that are given below:
- Contract Basics.
- Contract Classification.
- Meeting of the Minds.
Types of Contract
There are various types of contracts available in our legal system and these types are based on the needs. So that some of the main types are given below:
- Valid Contracts
- Illegal Contract
- Unenforceable Contracts
- Void Contract Or Agreement
- Voidable Contract