A contract under seal ; a specialty; as distinguished from one merely oral or in writing not sealed. But in. common usage this term is often used to denote an express or explicit contract, one which clearly defines and settles the reciprocal rights and obligations of the parties, as distinguished from one which must be made out, and its terms ascertained, by the inference of the law from the nature and circumstances of the transaction . Compound words and phrases.
Black’s Law Online Dictionary
