Contract

An agreement between two or more persons that creates an obligation to do or not to do a particular thing.

Source: U.S. Courts


(1) A term of reference describing a unit of trading for a commodity future or option; (2) an agreement to buy or sell a specified commodity, detailing the amount and grade of the product and the date on which the contract will mature and become deliverable.

Source: Commodity Futures Trading Commission


A legally binding agreement between two or more persons/organizations to carry out reciprocal obligations or value.

Source: U.S. Maritime Administration.


(1) An agreement between two or more people to do or not to do a particular thing;

(2) an agreement between two or more people that makes, changes, or ends a legal relationship.

Source: California Courts.