For the First Post; a contract is normally defined as a form of agreement between two parties constructing a legal obligation for both of them that is necessary to perform particular actions. Each party to contract is legally destined to perform specific duties like for example, interpreting a form of payment that may be required for delivering goods. A contract is usually being used for carrying out various form of transactions including the sale of the land of the goods or may be to make out an endowment of services (Cheeseman, n.d.). Contracts can either be oral or even be available in written form.