An agreement that is enforceable in law is called a Contract. A contract is a legally binding agreement between two or more parties that contains the essential elements of an offer, acceptance, and consideration. It means that the parties have voluntarily agreed to the terms of the contract and have entered into an agreement that is recognized and enforceable by law. A contract can be formed orally or in writing, and it must include certain elements, such as the parties' identities, the subject matter of the agreement, the consideration exchanged, and the terms and conditions of the agreement. When a party fails to perform their obligations under the contract, the other party may seek legal remedies to enforce the terms of the contract.