When it comes to legal agreements, there are two main types that are often used: expressed agreements and implied contracts. While they may sound similar, there are key differences between the two. In this article, we will explore what these differences are and when each type of agreement is typically used.
Expressed Agreement
An expressed agreement is a legally binding contract that is made explicitly, either by written or spoken words. This type of agreement clearly outlines the terms and conditions of the contract, including each party`s responsibilities and obligations. Express agreements are often used in business transactions, employment contracts, and real estate deals. In an expressed agreement, the terms of the contract are explicitly stated and agreed upon by all parties involved.
Implied Contract
An implied contract, on the other hand, is an agreement that is not expressly stated but is implied based on the actions of those involved. This type of contract is often created when conduct or circumstances suggest that a contract exists, such as when a person provides a service or goods and the party receiving those services or goods seems to accept them without objection. Implied contracts can be just as binding as expressed agreements and can be upheld in a court of law.
The Differences Between the Two
The main difference between an expressed agreement and an implied contract is the way they are formed. Express agreements are formed through explicit terms that are agreed upon by both parties involved. Implied contracts, however, are formed through the actions and circumstances surrounding a situation and can be more difficult to prove.
Additionally, expressed agreements are often more detailed and specific than implied contracts because express agreements must clearly outline the terms and conditions of the agreement. Implied contracts, on the other hand, may be less specific because they are based on actions rather than explicit terms.
Lastly, expressed agreements are generally easier to enforce and prove in court than implied contracts. This is because the terms of the contract are clearly stated in writing or verbally, making it easier to determine if either party has breached the agreement.
In conclusion, while both expressed agreements and implied contracts are legally binding, they differ in the way they are formed and the level of detail expressed in each. Understanding the differences between the two is important for anyone entering into any kind of legal agreement. Whether you are creating an expressed agreement or entering into an implied contract, it is always important to seek professional legal assistance to ensure that your interests are protected.