Which component of the contract documents actually formalizes the contract and is signed by the Owner and the Contractor

An agreement.

Explanation:

A contract can be defined as an agreement between two or more parties (group of people) which gives rise to a mutual legal obligation or enforceable by law.

Mutual assent is a legal term which represents an agreement by both parties to a contract. When two parties to a contract both have an understanding of the parameters, terms and conditions surrounding a contract, it ultimately implies that they are in agreement; this is generally referred to as mutual assent.

Hence, an agreement is a component of the contract documents which actually formalizes the contract and is signed by the Owner and the Contractor.

In the event of a breach of the contract by any of the parties involved (the owner or contractor), the contract agreement would be referred to for proper legal purposes.

the interest will be $59.71

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