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Glossary Term: CONTRACT

Definition(s) for CONTRACT:


1. ) A term of reference that describes a unit of trading for a financial or commodity future. Also, it refers to the actual bilateral arrangement between the buyer and seller of a transaction as defined by an exchange.

2. ) An agreement by which right or acts are exchanged for lawful consideration. To be valid, it must be entered into by competent parties, must cover a legal and moral transaction, must possess mutuality, and must represent a meeting of minds.

3. ) An agreement between 2 parties to make and take delivery of securities.

4. ) means any agreement, lease, license, note, mortgage, indenture, contract or other legally binding obligation.


See Also:
ASSIGNMENT OF SELLER'S INTEREST IN LAND CONTRACT, CONTRACT RIGHT, LAND CONTRACT, NO-LIEN CONTRACT, EXECUTORY CONTRACT, BULLET CONTRACT, CONTRACT MONTH, COST-PLUS CONTRACT, CURRENCY FUTURES CONTRACT, FOREIGN CURRENCY FORWARD CONTRACT, FOREIGN CURRENCY FUTURES CONTRACT, FORWARD CURRENCY CONTRACT, FORWARD FOREIGN EXCHANGE CONTRACT


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