private contract
[ˈpraɪvət ˈkɑːntrækt]
nounpl: private contracts
contrato privado
1. A legally binding agreement between two or more private parties, as opposed to an agreement involving government or public entities
The company signed a private contract with the supplier to deliver materials monthly.
A empresa assinou um contrato privado com o fornecedor para entregar materiais mensalmente.
2. An agreement that is not subject to public disclosure requirements and is governed by private law
They negotiated a private contract that included confidentiality clauses.
Eles negociaram um contrato privado que incluía cláusulas de confidencialidade.
In both Brazil and the USA, private contracts are fundamental to business operations and are governed by contract law. In Brazil, they are regulated by the Civil Code (Código Civil) and are frequently used in commercial transactions. The concept emphasizes the freedom of parties to negotiate terms without government intervention, though contracts must still comply with mandatory legal provisions.
Related Idioms & Phrases
sign a private contract
breach of private contract
terms of a private contract
enforce a private contract
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