The most common and most likely answer to this crossword clue is the 7 letter word CLAUSES
I've seen this crossword clue in The Guardian
C
L
A
U
S
E
S
Buddy explains!
The straight part
We know that "Parts of contract" is the straight/definition part of the clue. The straight part is often a synonym or definition, in this case parts of contract = clauses.The cryptic/wordplay part
In cryptic crossword there's often an wordplay/cryptic part as well.This part involves a more complex hint, such as an anagram, homophone, hidden word, etc.
Sadly, We don't have an explanation for this specific crossword clue yet.
What does CLAUSES mean?
CLAUSES noun- (grammar) A verb, its necessary grammatical arguments, and any adjuncts affecting them.
- (grammar) A verb along with its subject and their modifiers. If a clause provides a complete thought on its own, then it is an independent (superordinate) clause; otherwise, it is (subordinate) dependent.
- A separate part of a contract, a will or another legal document.
- (shipping) To amend (a bill of lading or similar document).