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A contract is an exchange of promises between two or more parties to do or refrain from doing something that is enforceable in a court of law. While most contracts can be and are made orally, such as buying a book or a cup of coffee, legal contracts are written and have certain “binding power” over the obligations of the parties involved. Any breach of contract is recognized by law and remedies are provided.
A written contract must be offered, understood, accepted and signed by all the parties involved. Once the document is signed, these parties are legally bound by all of its terms. Because of their importance as such, it is recommended that contracts are only translated by certified translators who are familiar with common contractual terms and their nature and significance in different national and international courts of law. More importantly, because each contract term indicates a contractual obligation, breach of which can lead to the conduct of lawsuits, it should be translated clearly, precisely and free of error. It is recommended that both the original and translated copies of a contract are examined and approved by all the parties involved before they are signed.