A contract is a legally binding agreement entered into by two or more parties. It is a contract that establishes a legal obligation or liability. Contracts are essential in almost every business, from employment contracts to rental agreements. However, creating contracts from scratch whenever you need them can be time consuming. Most companies and agencies prefer a written one, but many struggle to find a good set of templates to use to make this possible between them and the employee. They save time by using templates, but most online generators have limited functionality.