Forward Contract Definition: An agreement to buy or sell a specified thing at a fixed price at some future date. In Placer Dome, ΒΆ43, Justice Armstrong of the Ontario Court of Appeal adopted these words to define a forward contract: "An agreement to buy or sell a particular non-standard asset (usually currency) at a fixed price on a future date." REFERENCES: Duhaime, Lloyd, Contract Law Dictionary Placer Dome Canada Ltd. v. Ontario 190 OAC 157; also at 133 ACWS 3d 569 and at 2004 OJ 3554 (ONCA, 2004) Categories & Topics: Contract Law Dictionary Find you are constantly looking up definitions? Try our search provider (works in most modern browsers) If you find an error or omission in Duhaime's Legal Dictionary, or if you have legal term suggestion, we'd love to hear from you!