When it comes to legal agreements, formal contracts are often used to outline the terms and conditions of a business relationship or transaction. Formal contracts are legally binding and typically include a detailed description of the rights and responsibilities of all parties involved.

Examples of formal contracts vary widely depending on the industry and the nature of the agreement. However, some common types of formal contracts include:

1. Employment contracts: These types of formal contracts outline the terms and conditions of an employment agreement between an employer and an employee. They may include information on salary, benefits, and job duties, among other details.

2. Non-disclosure agreements (NDAs): NDAs are formal contracts that prohibit one party from disclosing confidential information to another party. NDAs are often used to protect trade secrets or other sensitive information in business transactions.

3. Purchase agreements: Formal contracts for the sale of goods or services typically include a purchase agreement. These types of agreements outline the terms of the sale and specify the obligations of both parties.

4. Lease agreements: A lease agreement is a formal contract that outlines the terms and conditions of a rental agreement between a landlord and a tenant. These agreements typically cover rent, security deposits, and other details related to the use of the property.

5. Partnership agreements: If two or more individuals or entities decide to enter into a business partnership, a formal contract called a partnership agreement is often used. This type of agreement outlines the terms and conditions of the partnership, including profit-sharing and management responsibilities.

In conclusion, formal contracts are essential in establishing a legally binding agreement between parties in various industries and transactions. The examples listed above are just a few of the many types of formal contracts, each with its unique terms, conditions, and legal implications. It`s always advisable to consult with a lawyer to ensure that any formal contract meets legal requirements and protects your interests.