Contract
A legal document that states and explains a formal agreement between two different people or groups, or the agreement itself [Cambridge Dictionary].
The contract requires him to finish work by the end of the year.
If he breaks the contract [=if he does not abide by the agreement], he will get sued [Britannica Dictionary].
The existence of a contract requires finding the following factual elements: a) an offer; b) an acceptance of that offer which results in a meeting of the minds; c) a promise to perform; d) a valuable consideration (which can be a promise or payment in some form); e) a time or event when performance must be made (meet commitments); f) terms and conditions for performance, including fulfilling promises; g) performance, if the contract is "unilateral". A unilateral contract is one in which there is a promise to pay or give other consideration in return for actual performance. A bilateral contract is one in which a promise is exchanged for a promise. Contracts can be either written or oral, but oral contracts are more difficult to prove and in most jurisdictions, the time to sue on the contract is shorter (such as two years for oral compared to four years for written). In some cases, a contract can consist of several documents, such as a series of letters, orders, offers, and counteroffers. There are a variety of types of contracts: "conditional" on an event occurring; "joint and several," in which several parties make a joint promise to perform, but each is responsible; "implied," in which the courts will determine there is a contract based on the circumstances. Parties can contract to supply all of another's requirements, buy all the products made, or enter into an option to renew a contract[Law dictionary].
Contract (2023). The Britannica dictionary. Retrieved from: https://www.britannica.com/dictionary/contract
Contract (2023). Law Dictionary. Retrieved from: https://dictionary.law.com/default.aspx?selected=337
Contract (2023). Cambridge Dictionary. Retrieved from: https://dictionary.cambridge.org/dictionary/english/contract