Commercial contracts are legally binding agreements between two or more parties that outline the terms of a business transaction. These contracts can cover a wide range of topics, including the sale of goods, services, or property. They specify the rights and obligations of each party, ensuring that everyone understands their responsibilities and what is expected from them. These contracts are essential for protecting the interests of all parties involved. They help prevent misunderstandings and disputes by clearly detailing aspects such as payment terms, delivery schedules, and quality standards. Common types of commercial contracts include sales agreements, service contracts, and lease agreements.