In case law, a contract is defined as a legally enforceable agreement between two or more parties, creating mutual obligations that are binding under the law. Courts interpret contracts based on objective intent, plain language, and context, with variations by jurisdiction (e.g., common law vs. civil law systems). Disputes often hinge on ambiguous terms, failure of consideration, or defenses like fraud, duress, or mistake. For precise application, consult statutes (e.g., UCC in the U.S. for sales) and relevant case law in the governing jurisdiction.