The Difference Between an Express and an Implied Contract

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Contracts What is the difference between an express and an implied contract? An expressed contract is an agreement where something is formalized in writing between the two parties. An implied contract is not in writing. Instead, it is based upon the actions that are taken by the individual and representations which are made. The differences between the two are an expressed contract has formalized written documentation that is explaining the responsibilities of both parties. While the other, are verbal statements made by the two parties and the actions they are taking to illustrate this. (Blum, 2007) (Emanuel, 2006) A unilateral and a bilateral contract? A unilateral contract is when one side will make specific promises to fulfill various obligations. A bilateral contract is where both parties agree to engage in certain actions to meet the conditions of the agreement. The differences between these, is one will involve a select side meeting specific obligations. Whereas the other; is concentrating on the actions of the two sides. (Blum, 2007) (Emanuel, 2006) A contract that is void or voidable? A void contract is an agreement which is unenforceable from the moment it is established. This can be for a number of reasons. The most notable include: it is breaking various provisions of the law, encouraging someone to engage in illegal activities, a party may lack the mental capacity to engage in these agreements (i.e. minors / someone who is mentally impaired) or it is

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