com.r3corda.core.contracts / Contract

# Contract

`interface Contract`

Implemented by a program that implements business logic on the shared ledger. All participants run this code for every LedgerTransaction they see on the network, for every input and output state. All contracts must accept the transaction for it to be accepted: failure of any aborts the entire thing. The time is taken from a trusted timestamp attached to the transaction itself i.e. it is NOT necessarily the current time.

### Properties

legalContractReference | `abstract val legalContractReference: SecureHash` Unparsed reference to the natural language contract that this code is supposed to express (usually a hash of the contracts contents).

### Functions

verify | `abstract fun verify(tx: TransactionForVerification): Unit` Takes an object that represents a state transition, and ensures the inputs/outputs/commands make sense. Must throw an exception if theres a problem that should prevent state transition. Takes a single object rather than an argument so that additional data can be added without breaking binary compatibility with existing contract code.

### Inheritors

CommercialPaper | `class CommercialPaper : Contract`
DummyContract | `class DummyContract : Contract`
FungibleAsset | `abstract class FungibleAsset<T> : Contract` Superclass for contracts representing assets which are fungible, countable and issued by a specific party. States contain assets which are equivalent (such as cash of the same currency), so records of their existence can be merged or split as needed where the issuer is the same. For instance, dollars issued by the Fed are fungible and countable (in cents), barrels of West Texas crude are fungible and countable (oil from two small containers can be poured into one large container), shares of the same class in a specific company are fungible and countable, and so on.
InterestRateSwap | `class InterestRateSwap : Contract` The Interest Rate Swap class. For a quick overview of what an IRS is, see here - http://www.pimco.co.uk/EN/Education/Pages/InterestRateSwapsBasics1-08.aspx (no endorsement) This contract has 4 significant data classes within it, the "Common", "Calculation", "FixedLeg" and "FloatingLeg" It also has 4 commands, "Agree", "Fix", "Pay" and "Mature". Currently, we are not interested (excuse pun) in valuing the swap, calculating the PVs, DFs and all that good stuff (soon though). This is just a representation of a vanilla Fixed vs Floating (same currency) IRS in the R3 prototype model.