formal contract
Legally binding pact
A formal contract is a legally binding agreement that meets specific requirements imposed by law—typically a written document, signatures, witnesses, or a seal.
Deeds, mortgages, and negotiable instruments are formal contracts.
The term distinguishes these from simple contracts, which may be oral or implied from conduct.
The sale required a formal contract rather than a handshake.
- offerProposal to provide
- statuteEnacted written rule
- meeting of mindsMutual intellectual agreement
- signatoryOne who signs officially
- considerationCareful thought or compensation
good faith · dotted line · enforceability · notarization · negotiation · clauses · regulation · execution · lease agreement · common law · acceptance · drafting · boilerplate language · fine print · witness · purchase agreement · attorney · review
- agreementshandshake, nod, accords, verbal consent, agreement
- contractslease, clause, oral, severance package, assent
- legal documentsaffidavit, deed, will, subpoena, injunction
formal contracthandshake deal
Unwritten mutual commitment
gentleman's agreement · verbal agreement · understanding · tacit agreement · verbal promise
formal contractletter of intent
Preliminary agreement expressing commitment
memorandum of understanding · preliminary agreement · expression of interest · soft commitment
formal contractmemorandum of understanding
Preliminary accord document
letter of intent · promise · pledge · vow · commitment
formal, contract, form, forms, formed, forming, formless, formation, formative