be under contract

be under contract
be under contract
LAW to have made a formal agreement with another person or company, and be legally responsible for doing what you have agreed to do: »

We're under contract to complete the job by the end of the year.

PROPERTY if a building or property is under contract, the owner has officially agreed to sell it to a particular person for a particular price: »

Two of the site's 8000 sq ft commercial lofts are currently under contract.

Main Entry: contract

Financial and business terms. 2012.

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  • under contract — required to provide something (such as work or a service) according to the terms stated in a contract She is under contract with the TV station for three more years. • • • Main Entry: ↑contract …   Useful english dictionary

  • put under contract — index engage (hire) Burton s Legal Thesaurus. William C. Burton. 2006 …   Law dictionary

  • Contract farming — is agricultural production carried out according to an agreement between a buyer and farmers, which establishes conditions for the production and marketing of a farm product or products.[1] Typically, the farmer agrees to provide established… …   Wikipedia

  • contract — [kän′trakt΄] for n. & usually for vt.1 & vi.1 [; kən trakt′] for v. generally n. [OFr < L contractus, pp. of contrahere, to draw together, make a bargain < com , together + trahere, to DRAW] 1. an agreement between two or more people to do… …   English World dictionary

  • Contract sanctity — is the concept that U.S. agricultural products already contracted to be exported should not be subject to government cancellation because of short supply, national security, or foreign policy reasons. The 1990 farm bill (P.L. 101 624) provides… …   Wikipedia

  • contract carrier — n: a transport line that carries persons or property under contract to one or a limited number of shippers compare common carrier Merriam Webster’s Dictionary of Law. Merriam Webster. 1996 …   Law dictionary

  • Contract — law …   Wikipedia

  • contract — contractee, n. contractible, adj. contractibility, contractibleness, n. contractibly, adv. n., adj., and usu. for v. 16 18, 22, 23 /kon trakt/; otherwise v. /keuhn trakt /, n. 1. an agreement between two or more parties for the doing or not doing …   Universalium

  • contract — {{Roman}}I.{{/Roman}} noun 1 written agreement ADJECTIVE ▪ long term, permanent ▪ guaranteed (esp. AmE) ▪ casual (BrE), fixed term (BrE), short term …   Collocations dictionary

  • contract — a legally binding agreement between two or more parties. Glossary of Business Terms A legally enforceable agreement between two or more parties for performing, or refraining from performing, some specified act; e.g., delivering 5,000 bushels of… …   Financial and business terms

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