From King Dictionary of Contemporary English
Related topics: Business basics, Crime
contractcon‧tract1 /ˈkɒntrækt $ ˈkɑːn-/ ●●● S1 W1 AWL noun [countable] 1 BBAGREEan official agreement between two or more people, stating what each will docontractualcontract with/between Tyler has agreed a seven-year contract with a Hollywood studio.contract to do something a three-year contract to provide pay telephones at local restaurantson a contract/under contract The firm operates schools under contract to state education authorities. Employees who refuse to relocate are in breach of contract (=have done something not allowed by their contracts).2 subject to contract3 informalSCCKILL an agreement to kill a person for money They put a contract out on him and he’s in hiding.COLLOCATIONSverbshave a contractThe company had a contract to build a new hotel there.sign a contractHe signed a contract to become vice president of the football club.enter (into) a contractYou will enter a two-year training contract with your chosen employer.agree to a contract (also agree a contract British English)Keane was reported to have agreed a contract for a further three years.make a contractDid he know this when he made the contract?negotiate a contract (=agree the conditions of a contract with someone)Your lawyer will assist you in negotiating a contract.break a contract (=do something that your contract does not allow)She broke her contract and left the job after only six months.fulfil/honour a contract (=do what you have agreed to do)If you have signed a contract, you have to fulfil it.draw up a contract (=write one)The two sides drew up a a contractThey won a contract to supply 37 passenger trains to Regional Railways.give somebody a contractHe was given a new two-year contract in March.award a company a contract (=give them a contract)The state of Kentucky has awarded the firm a $10m contract.cancel/end/terminate a contractThe buyer has three days in which to cancel the contract.renew somebody’s contract (=give someone another contract when their old one ends)I hope they will renew my contract at the end of the year.adjectivesa one-year/two-year etc contractHe signed a five-year contract worth $2 million.a recording/building etc contractThe band was soon offered a recording contract with Columbia Records.a written contractAll employees should have a written contract.phrasesa contract of employment (also an employment contract)Make sure you fully understand your contract of employment.the terms of a contract (=the conditions that are part of the contract)He explained the terms of the contract.breach of contract (=an action that your contract does not allow)They are suing the building company for breach of in breach of contract (=have done something that your contract does not allow)
Examples from the Corpus
contractA new service could set up by gaining enough contracts with major customers of the old service to take over.Future contracts will cost more or less, depending on trends in tuition costs, Cantor said.His contract of employment contained a restraint of trade clause.My contract guarantees me a 15% pay raise every year.My contract says I have to work 35 hours per week.One of the largest new contracts is a £9 million deal with the City of Westminster to provide a school meals service.Two San Diego firms are major subcontractors vying for the ship contract.The company was prosecuted for breaking the contract.These individuals, known as locals, are vital for the liquidity of the markets in the contracts traded in the pits.Many EconoPage customers had several years left on their contracts.Union contracts often specifically protect workers who are physically able to work.Baltimore officials have confirmed that Olson will sign a two-year contract with the club.are in breach of contractAlthough employees who decide not to move may be in breach of contract, there is little that employers can do.For example, an employer is not in breach of contract for sacking some one because of his or her age.If it is withdrawn, then the advertiser is in breach of contract with any bidder who had come in response to the advertisement.No ballot was held, as was legally required if the action was in breach of contract.Ten o'clock dead or you're in breach of contract.put ... contract out onThe mob put a contract out on him.
contractcon‧tract2 /kənˈtrækt/ ●○○ AWL verb 1 [intransitive]NARROW to become smaller or narrower OPP expand Metal contracts as it cools. The economy has contracted by 2.5% since last year.2 [transitive] formalMIGET to get an illness SYN catch Two-thirds of the adult population there have contracted AIDS.3 BBAGREE[intransitive, transitive] to sign a contract in which you agree formally that you will do something or someone will do something for youcontract (somebody) to do something They are contracted to work 35 hours a week. the company that had been contracted to build the modelscontract (with) somebody for something Doctors control their budgets and contract with hospitals for services.contract a marriage/alliance etc (=agree to marry someone, form a relationship with them etc) Most of the marriages were contracted when the brides were very young.→ See Verb table
Examples from the Corpus
contractWhen we work a muscle we cause it to contract and become bigger.In the 1980s, the economy contracted and many small businesses failed.Metal contracts as it becomes cool.When she contracted polio, which paralyzed her left leg, she was told she would never walk again.Dr Chalmers is trying to find out how many people may have contracted the disease in her area.He contracted the disease through an insect bite.The key message is that kids cook quick - which is not to say that they immediately contract the disease.Firstly, this makes it difficult to decide where best to expand or contract the firm's resources.The city of Chicago has contracted to purchase three city transit buses that will be powered by fuel cells.Orwell contracted tuberculosis during the war and eventually died from the disease.The Housing Authority of Louisville quit contracting with one of its resident management corporations because the corporation began to cheat.contract a marriage/alliance etcA failure to conform to the legal requirements in contracting a marriage will render that marriage void.
contractcontract3 /ˈkɒntrækt $ ˈkɑːn-/ contract in contract outFrom King Business Dictionarycontractcon‧tract1 /ˈkɒntræktˈkɑːn-/ noun1[countable]LAW a formal written agreement between two or more people or groups which says what each must do for the other, or must not doInformix signed a contract to provide software for Wal-Mart Stores’ distribution and systems.Lawyers are still drawing up the recording contract.Gazprom has entered into a contract with NIOC to develop the South Pars gas field.He wasn’t fired and he is still under contract to OGE.All cargo-handling services are now put out to contract (=companies compete to win the work). see also breach of contract, essence of a contract2[countable]FINANCE an agreement to deliver a type of basic goods or material at a particular price and time in the futureThe wheat contract for March delivery rose 8.5 cents a bushel. aleatory contract annual hours contract bilateral contract binding contract evergreen contract executed contract express contract fixed-period contract formal contract forward contract frustration of contract futures contract hire purchase contract implied contract labor contract naked contract onerous contract options contract oral contract performance contract rolling contract service contract standard-form contract turnkey contract unenforceable contract unilateral contract voidable contract void contractcontractcontract2 adjective [only before a noun] British English contract builders, electricians etc do work for companies rather than for the general publiccontractcon‧tract3 /kənˈtrækt/ verb [intransitive]1ECONOMICS if an economy, industry, or business activity contracts, it gets smaller or less successfulEuropean scheduled air traffic grew 1.1%, but domestic traffic contracted by 1.6%.contraction noun [uncountable]The US remained the largest buyer of Japanese vehicles in May, despite a 17% contraction in shipments.2COMMERCELAW contract to do something to formally agree to do something, for example by signing a contractLast month, the shipbuilding industry contracted to export 16 vessels. contract in contract out→ See Verb tableOrigin contract1 (1300-1400) Old French Latin contractus; CONTRACT2 contract2 (1500-1600) Latin contractus, past participle of contrahere to pull together, make a contract, make smaller, from com- (COM-) + trahere to pull