Generally,
contract can be defined as an agreement with specific terms between two or more
persons or entities in which there is a promise to do something in return for
valuable benefit known as consideration. Since the law of contracts is at the
heart of the most business dealing, it is one of the three or four most
significant areas of legal concern and can involve variations on circumstances
and complexities. And here, we can define the basic service contract as an
agreement between the employer and employee.
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