Article 1 of the Uniform Commercial Code copyrighted by the American Law Institute is considered the primary source for the definition of a contract. All of the 50 states have incorporated all or most of the definition of this code as statue. A contract is defined as a legal obligation between two or more parties. A contract has to have four elements for it to be binding on the parties.
Uniform Commercial Code
The Uniform Commercial Code (UCC) is copyrighted by the American Law Institute. The UCC defines what is a contract for contract law. Article 1 explains the concept and the required elements of a contract. All 50 states use all or a part of the definition in their respective statues.