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contract

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noun [countable] American English pronunciation: contract /ˈkɑnˌtrækt/ 
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singularcontract
pluralcontracts
  1. 1
    legal a written legal agreement between two people or businesses that says what each must do for the other or give to the other

    After six months she was offered an employment contract.

    A team led by Raytheon Aircraft Co. has won a contract to build aircraft to train Air Force pilots.

    contract with:

    Our contract with NBC expires next year.

    under a contract:

    Under his contract he is not allowed to work for any other publisher.

    be in breach of contract (=have done something the contract says you must not do):

    The court found that the company was in breach of contract.

    be on a contract (=have a contract to work for someone):

    Are you on a permanent or a fixed-term contract?

    be under (a) contract to someone/something (=have obligations as a result of a contract with them):

    She is still under contract to Microsoft.

    be off contract:

    He is now off contract and free to move on.

    sign a contract:

    He has signed a six-year contract with the Denver Broncos.

    subject to contract (=with no contract yet signed):

    The house has been sold subject to contract.

    award someone a contract:

    The contract for building the hospital has been awarded to a Dutch company.

  2. 2
    informal an agreement by which someone is paid to kill another person

    a contract killer/killing

    take out a contract on someone:

    She was accused of taking out a contract on her own husband.

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endies

Employed but with No Disposable Income or Savings: people who are in work but only earn just enough to live on

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