Contract: n. a recorded agreement enforceable by law between two or more humans and/or institutions for doing and/or not doing a subset(s) at some point(s) in the future
A legal non fraudulent contract specifies what the parties in it are obliged to do at one or more points in the future and what they are not permitted to do. Contracts are getting more complicated every year as laws change and they must be incorporated into new contracts to make them legally valid and not fraudulent.
Contracts are notorious for fine print both on the internet and in lease agreements, mortgages, and credit card agreements. What verbose contracts really mean is that you often sign a contractual agreement without reading all of it and pretty much rely on the reputation of the individual or company which you are contracting with. Only later do you find out that you signed and agreed to do some things which you were not aware of or didn’t realize that you gave up certain rights during the contractual agreement which are favorable to the business or company but not to you personally.
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