Express Contract
An express contract is a clear agreement between parties that is explicitly stated, either in writing or verbally. In the context of a written contract, it outlines specific terms, conditions, and obligations that both parties agree to fulfill. For example, if you sign a lease for an apartment, the document details the rent, duration, and responsibilities. An express contract leaves little room for ambiguity, providing clear expectations for all involved, which helps avoid misunderstandings and disputes.
Additional Insights
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An express contract is a clear agreement between parties, where the terms are specifically stated, either verbally or in writing. It outlines the obligations and rights of each party and is legally binding once both sides agree to the terms. For example, if you sign a lease for an apartment, the lease is an express contract that details your responsibilities, such as rent payments, and those of the landlord. Since the terms are explicitly articulated, both parties know what to expect and can enforce the agreement in case of a dispute.