What is a contract defined as in legal terms?

In legal terms, a contract is defined as a promise made by one person to another that the courts will enforce. This definition highlights the essential elements of a contract, which include an agreement between parties, consideration (something of value exchanged), and mutual intent to enter into a legally binding arrangement. When a contract is legally recognized, it binds the parties to fulfill their obligations, and failure to do so may result in legal consequences, including the possibility of being taken to court for breach of contract.

The importance of enforceability in a contract is fundamental, as it distinguishes a valid contract from mere informal agreements that lack legal weight. While verbal agreements can form contracts, generally written documentation is preferred for clarity and proof. Agreements without legal obligations may lack the necessary elements to constitute a contract, such as consideration or mutual intention, which means they cannot be enforced by law. Thus, the correct answer emphasizes the critical aspect of legal enforceability in defining a contract.