(law) An agreement in which in which one party agrees to supply as much of a good or service as is required by the other party, and in exchange the other party expressly or implicitly promises that it will obtain its goods or services exclusively from the first party.

plural of requirements contract

(law) A category of contract used in labor law to attribute right and responsibilities between parties to a bargain.

plural of eccentric contraction

(finance) A standardized contract, traded on a futures exchange, to buy or sell a standardized quantity of a specified commodity (or financial instrument) of standardized quality at a certain date in the future, at a stated price (the futures price).

(law) A contract that involves an exchange of goods, services or property to be exchanged from seller (or vendor) to buyer (or purchaser) for an agreed upon value in money (or money equivalent) paid or the promise to pay same.

The right of individuals to bargain freely among themselves the terms of their own contracts, without government interference.

plural of futures contract

(law) A failure to meet an obligation under the terms of a contract.

(law) An obligation created by the law in the absence of an agreement or contract; not based upon the intentions or expressions of the parties.