contract (redirected from Law of contracts)

contract /con·tract/ (kon-trakt´)

1. to shorten, or reduce in size, as a muscle.

2. to acquire or incur.

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con·tract (kn-trkt, kntrkt)

v.

1. To reduce in size by drawing together.

2. To become reduced in size by or as if by being drawn together, as the pupil of the eye.

3. To acquire or incur by contagion or infection.

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contract

Etymology: L, con + trahere, to draw

1 n, [kon′trakt] , an agreement or a promise that meets certain legal requirements, including competence of both or all parties to make the contract, proper lawful subject matter, mutuality of agreement, mutuality of obligation, and consideration (the exchange of something of value in payment for the obligation undertaken).

2 v, [kəntrakt′] , to make such an agreement or promise. contractual, adj.

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contract,

n 1. an agreement based on sufficient consideration between two or more competent parties to do or not to do something that is legal.
2. a legally enforceable agreement between two or more individuals or entities that confers rights and duties on the parties. Common types of contracts include (1) those contracts between a dental benefits organization and an individual dental provider to provide dental treatment to members of an alternative benefits plan. These contracts define the dental provider's duties both to beneficiaries of the dental benefits plan and the dental benefits organization, and usually define the manner in which the dental provider will be reimbursed; and (2) contracts between a dental benefits organization and a group plan sponsor. These contracts typically describe the benefits of the group plan and the rates to be charged for those benefits.

contract, breach of,

n the failure, without legal excuse, to perform an obligation or duty in a contract.

contract dentist/dental professional,

n a practitioner who contractually agrees to provide services under special terms, conditions, and financial reimbursement arrangements.

contract dentistry,

n 1. the providing of dental care under a specific set of guidelines and for a specific set of individuals under an accepted written agreement by the patient, dental professional, and employer.
2. the practice of dentistry whereby the dentist/dental professional enters into a written agreement with either patients or an employer to provide dental care for a set group of people.

contract, express,

n a contract that is an actual agreement between the parties, with the terms declared at the time of making, being stated in explicit language either orally or in writing.

contract fee schedule plan,

n a dental benefits plan in which participating dental professionals agree to accept a list of specific fees as the total fees for dental treatment provided.

contract, implied,

n a contract not evidenced by explicit agreement of the parties but inferred by the law from the acts and circumstances surrounding the transactions.

contract, open-end,

n 1. a contract that permits periodic reevaluation of the dental plan during the contract year. If indicated by the reevaluation, dental services may be deleted or added to achieve a balance between the premium and cost of service provided.
2. a contract that sets no dollar limits on the total services to be provided to beneficiaries but does list the particular services that will be included in the plan.

contract practice,

n a type of dental practice in which an employer or third-party administrator contracts directly with a dental professional or group of dental professionals to provide dental services for beneficiaries of a plan. See also closed panel.

contract term,

n the period, usually 12 months, for which a contract is written.

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contract

Managed care A health care policy or plan in which a provider offers certain services delineated in writing, to which the purchaser–Pt agrees by signature. See Guaranteed renewable contract, Provider risk contract, Subscriber contract.