1. A legally binding agreement between two or more parties that follows all required legal formalities and procedures, typically documented in writing with signatures
They signed a formal contract to establish the terms of employment.
Eles assinaram um contrato formal para estabelecer os termos do emprego.
2. A written agreement that meets all legal requirements and is enforceable in court
A formal contract requires consideration, offer, and acceptance to be valid.
Um contrato formal requer contraprestação, oferta e aceitação para ser válido.