The parties created a contract by stating terms for compliance. this is best described as:__________

1 answer:

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The parties created a contract by stating terms for compliance. this is best described as a<u>n </u><u>expressed contract</u>.

An express contract is an agreement that has been thoroughly spelled out either in writing or orally. This contract consists of at least parties who make legal guarantees to satisfy set/exact terms closer to every other. they agree to be legally bound via those phrases according to the law.

An express contract is an exchange of guarantees wherein the phrases through which the events comply with be bound are declared either orally or in writing, or a combination of both, on the time it's miles made.

Legally, the factors of an express contract are: (1) a proposal by means of one celebration and an recognition with the aid of the alternative, (2) consideration, in particular something of price contributed with the aid of each celebration and (three) a mutuality of rationale— specifically, a assembly of the minds concerning the provisions of the agreement.

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