Through this study we tried to capture the definition of the entity called contract. Therefore we didn’t limit our research to a simple position, defining the contract, but focus on developing the content of those principles and norms that govern the contract liberty and in some cases its obligatoriness. In the end we concluded on the functional importance of the contract, thus stating that this juridical construction cannot be treated as separate value that doesn’t influence the social relations, including that fact that a contract primarily is a juridical effect of these social interactions.