Question

The different types of contract are express contract, ______ contract, unilateral contract, and bilateral contract.

Answer 1

Implied is another type of contract.

Answer 2

The different types of contract are express contract, implied contract, unilateral contract, and bilateral contract.

An implied contract is an agreement created between the parties involved and based on their actions. An implied contract distinguishes from an express contract in that an implied contract is not a written nor a spoken contract. In other words, the terms of an implied contract are not declared orally nor in writing. Moreover, there are two forms of implied contracts: implied-in-fact contracts, which creates obligations between the parties, and implied-in-law contracts, in which the law imposes upon a person the responsibility to comply with the contract until its end.