A legal contract is a formal agreement between two or more parties that is enforceable by law. It outlines the rights and obligations of each party involved, ensuring that everyone understands their responsibilities. Contracts can cover a wide range of topics, such as employment, sales, and services, and must meet specific criteria to be valid, including mutual consent and consideration. To be legally binding, a contract must also be clear and specific, detailing the terms and conditions agreed upon. If one party fails to fulfill their obligations, the other party may seek legal remedies, such as damages or specific performance, to enforce the contract.