Implied Contract
An implied contract is an agreement that is not written or spoken but is inferred from actions, circumstances, or conduct of the parties involved. In the context of written contracts, it complements the express terms outlined in the document. For example, if someone consistently performs a service and the other party accepts and pays for it, an implied contract may arise from this pattern of behavior, even if there’s no formal written agreement covering those specific terms. Essentially, it recognizes mutual understanding and expectations based on behavior rather than explicit wording.
Additional Insights
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An implied contract is an agreement that isn’t written or spoken, but is understood based on the actions or circumstances of the parties involved. For instance, when you go to a restaurant and order food, you imply a contract to pay for the meal, even if there's no formal agreement. This type of contract arises from the situation and behaviors, suggesting that both parties have a mutual understanding of their responsibilities, even if they haven’t explicitly stated them. Implied contracts rely on fairness and common sense to enforce what parties would reasonably expect from each other.