Formal Contract
/ˈfɔːrməl ˈkɒntrækt/
Definitions
- (n.) A legally binding agreement executed according to prescribed legal formalities, often requiring a written document, signatures, or notarization.
The parties signed a formal contract to finalize the sale of the property.
- (n.) A contract distinguished by strict adherence to legal formalities as opposed to informal or implied agreements.
Unlike informal agreements, a formal contract often demands compliance with statutory requirements.
Forms
- formal contract
- formal contracts
Related terms
See also
Commentary
Formal contracts emphasize compliance with specific legal requirements to ensure enforceability; drafters should ensure all prescribed formalities are met to avoid invalidation.
This glossary is for general informational and educational purposes only. Definitions are jurisdiction-agnostic but reflect terminology and concepts primarily drawn from English and American legal traditions. Nothing herein constitutes legal advice or creates a lawyer-client relationship. Users should consult qualified counsel for advice on specific matters or jurisdictions.