Express vs Implied Contracts

The video tutorial explains the differences between express and implied contracts. Express contracts are clearly stated either verbally or in writing, while implied contracts arise from actions or circumstances. Implied in fact contracts are based on the conduct of the parties, suggesting an agreement exists. Implied in law contracts occur when one party benefits unfairly at the expense of another, prompting legal intervention to establish a fair relationship.

What is a key characteristic of an express contract?

• It is always written.

• It requires no negotiation.

• It is always verbal.

• The terms are clearly stated.

In an implied in fact contract, what indicates that an agreement exists?

• A court order.

• A verbal agreement.

• The conduct of the parties.

• A written document.

Which scenario best illustrates an implied in fact contract?

• A court-imposed obligation.

• Regular delivery of goods without a new order.

• A handshake deal with no prior dealings.

• A signed lease agreement.

What is the primary reason for a court to impose an implied in law contract?

• To enforce a written agreement.

• To prevent unfair benefit to one party.

• To validate a verbal agreement.

• To formalize a handshake deal.

How does an implied in law contract differ from a traditional contract?

• It is based on fairness rather than agreement.

• It requires verbal consent.

• It is negotiated between parties.

• It is always written.