BY CONTRACT Meaning and
Definition
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By contract refers to a legal agreement or a binding arrangement between two or more parties. It involves the creation of a formal document that outlines the rights, obligations, and responsibilities of each party involved. This agreement can be either written or oral, but typically, a written contract is preferred for legal clarity and enforceability.
In a contract, the terms and conditions are agreed upon by all the parties involved, and they serve as the basis for conducting business or engaging in a specific transaction. By contract, parties typically set out specific provisions such as payment terms, delivery dates, scope of work, or performance expectations. It may also include provisions related to potential breaches or termination of the agreement.
By contract, parties establish a legal relationship that is intended to protect the interests of both sides. It ensures a mutual understanding of the agreement and provides a framework for dispute resolution if conflicts arise. Contracts can be formal or informal depending on the nature and complexity of the agreement.
Contracts are essential in various fields, including business, finance, employment, real estate, and other professional services. They are enforceable legal documents that establish the rights and obligations of each party involved. By contract, parties enter into a legally binding relationship and are obligated to fulfill their responsibilities as outlined in the agreement.
Common Misspellings for BY CONTRACT
- vy contract
- ny contract
- hy contract
- gy contract
- bt contract
- bg contract
- bh contract
- bu contract
- b7 contract
- b6 contract
- by xontract
- by vontract
- by fontract
- by dontract
- by cintract
- by ckntract
- by clntract
- by cpntract
- by c0ntract
- by c9ntract
Etymology of BY CONTRACT
The word "by contract" does not have a specific etymology as it is a combination of two separate words: "by" and "contract".
- "By" is a preposition that originated from Old English, where it was spelled as "bi" or "big". It has roots in various Germanic languages and is often used to indicate the agent or means through which something is done.
- "Contract" comes from the Latin word "contractus", which means "drawn together" or "agreement". It originated from the verb "contrahere", which combines "con-" (meaning "together") and "trahere" (meaning "to draw"). In English, "contract" refers to a legally binding agreement between two or more parties.
When combined, "by contract" simply means that something is done or governed through the terms of an agreement or a legally binding document.
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