Use a contract any time there is an expectation of good, services or money from two parties in exchange.
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You wouldn't use a futures contract for that; it would be an OTC swap contract.
Yes. When applying for a store card (or a credit card), the signature on your application implies agreement to the contract between you and the lender if the decision to extend you credit is made. Also, if you use the card, there is language in the Terms and Conditions section (fine print, the contract) which states that your use of the card implies you will accept the contract.
Getting out of contract can be made by executing or exhausting the object of the contract or using applicable contract provisions that can get you out of contract.
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A written contract is the usual method