2013 | OriginalPaper | Buchkapitel
Types of Contracts and Its Characteristics
verfasst von : Konstantinos Tzanakakis
Erschienen in: The Railway Track and Its Long Term Behaviour
Verlag: Springer Berlin Heidelberg
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According to a dictionary, the word “contract” is
a legal document that states and explains a formal agreement between two different people or groups, or the agreement itself
. Each prospective party, who is going to make a contract, has an expectation toward another party, and negotiates with each other on monetary and environmental conditions, and finally, if it is acceptable, reaches a formal agreement. A contract is a product of these rigorous processes[120].