Answer:
A contract is an agreement between at least two natural or legal persons – the parties, or more specifically contractors – about what they will do with each other or for each other – the performance to be delivered – or not.
Contracts must be distinguished from obligations: an agreement creates an obligation, but the reverse is not always the case. If someone inflicts damage on another, this may result in an obligation to compensate it.
Sometimes a contract has a predetermined term, the period for which it applies. These must in principle be fulfilled. If the other party does not fulfill an agreement, it can, if necessary, be enforced through the courts.