When two or more parties are bound to act as described in the contract, this is referred to as an "implied contract".
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What do you mean by "Implied Contract"?</h3>
Under Indian Legal System, Contract is defined under Indian Contract Act 1872 under which Voidable Contract is defined under Section 2(i) of the Act.
An implied contract is referring to as the contract that is not written or verbally stated.
The parties who are indulge in this contract can explain what they should do and what the contract is regarding by knowing the context and the problems concerning the situation, it is never explicitly said what the obligations or rules are.
This type of contract although legal but they are often non written contract because it does not involve written agreement between parties involved and there is no form of communication.
Learn more about contract, refer to the link:
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Advantages: moderate buying and selling
disadvantages: less 'freedom' for the buyer and sellers
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