A Contract is a Legal Document... Know what you are SigningRead the contract. Know what you're signing. With the convenience of electronic signatures, it's more important today than ever for the Buyer and the Seller to read and understand what you're signing. A contract is a legal document. Make sure all the information is correct. Parties to the contract are the Seller and Buyer. In Texas, the names entered on the contract will be used by the Title Company to draw up the deed. Paragraph 2: Property is the legal description of the pr