typo on ASC index page
title: Algorand Smart Contracts
-**Algorand Smart Contracts (ASC1)** are small programs written in an assembly-like language that can be used as a replacement for signatures within a transaction. The language of Algorand Smart Contracts is named **Transaction Execution Approval Langauge** or **TEAL**.
+**Algorand Smart Contracts (ASC1)** are small programs written in an assembly-like language that can be used as a replacement for signatures within a transaction. The language of Algorand Smart Contracts is named **Transaction Execution Approval Language** or **TEAL**.
TEAL programs have one primary function and that is to determine whether or not a transaction is approved by analyzing it against its own logic and returning either `true` or `false` - approved or not approved, respectively. Algorand transactions can be authorized by [a signature from a single account](../transactions/signatures.md#single-signatures) or a [multisignature account](../transactions/signatures.md#multisignatures). Smart Contracts allow for a third type of signature using a TEAL program, called a **logic signature (LogicSig)**. Algorand Smart Contracts provide two modes for TEAL logic to operate as a LogicSig, which are discussed in [Usage Modes](modes.md).
