A legally favorable contract is an enforceable agreement between two or more parties. It can be oral or written. Learn more about the requirements of a legally advantageous contract. To be a legitimate contract, an agreement must have the following five characteristics: Here are the possible answers to the crossword note Formal agreement between two or more parties. If you still haven`t solved the crossword hint Formal agreement between two or more parties, search our database for the letters you already have! A contract is a voluntary agreement between two or more parties that is legally enforceable. It is a legally binding agreement that requires two or more parties to perform certain tasks. It establishes rights and obligations vis-à-vis the contracting parties. A contract is a promise or set of promises between two or more parties that allow the courts to render a judgment. Subscribe to this paid journal for more articles on the topic Most contracts are bilateral. This means that each party has made a promise to the other. .