contract

Noun: A term which is simple in its superficial aspect but actually difficult of succinct definition, since nothing less than the whole body of applicable precedent will suffice for the purpose of definition. Williston, Contracts 3rd ed § 1; summarily defined as an agreement upon sufficient consideration to do, or refrain from doing, a particular lawful thing. 17 Am J2d Contr § 1. For the purposes of the Uniform Commercial Code, "contract" means the total legal obligation which results from the parties' agreement as affected by the code and other applicable rules of law. UCC § 1-201(1 1). In popular speech, the word "contract" is frequently used as meaning the work done under a contract. Independent Bridge Co. v Aetna Casualty & S. Co. 316 Pa 266, 175 A 644, 96 ALR 549; a work or improvement for the prosecution of which public authorities have entered into a contract. Independent Bridge Co. v Aetna Casualty & Surety Co. 316 Pa 266, 175 A 644, 96 ALR 549. Within the meaning of the obligation of contract clause of the Federal Constitution, the term "contract" includes not only contracts as the word is ordinarily understood, but all instruments, ordinances and measures, by whatever name known, which embody the inherent qualities or purposes of valid contracts and carry like them their reciprocal obligations of good faith. 16 Am J2d Const L §§ 438et seq. Verb: To enter into a binding obligation of contract. See consideration; executed contract; executory contract; implied contract; parol contract; quasi contract.