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 new insight or understanding did you gain from this video?

Evaluate responses using AI:

OFF