Final answer:
A contract that involves obligations for manufacturers and distributors is known as a distribution contract. These contracts include terms for sale, responsibilities, payment, and should comply with legal standards to ensure fair competition.
Step-by-step explanation:
A contract that involves obligations on the part of manufacturers and distributors is commonly referred to as a distribution contract. This type of agreement outlines the terms under which manufacturers will sell products to distributors and often includes the responsibilities of each party, the terms of payment, and delivery specifics. It's important to note that such contracts must adhere to legal standards to maintain fair competition. An example of how distribution contracts must comply with the law is the prohibition of minimum resale price maintenance agreements, which are illegal because they can restrict competition among dealers. Within the realm of distribution contracts, manufacturers may suggest prices but are not permitted to impose minimum resale pricing as this would infringe upon competitive practices.