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A contract is an agreement between two or more parties who are willing to create legal obligations between them. The elements of a contract are always acceptance or offer and is usually according to the law. Contract laws varies from one jurisdiction to another. contracts can be done by writing, orally or even by conduct. They are always signed voluntarily and it acts as acceptance to committment to someone or organization.
1. Bernstein DE. (2008). Freedom of Contract. George Mason Law & Economics Research Paper No. 08-51.