What kind of contract involves the actual written or verbal agreement as its basis?

What kind of contract involves the actual written or verbal agreement as its basis?

• A. Implied contract
• B. Unilateral contract
• C. Expressed contract
• D. Bilateral contract

Answer: (C)

An expressed contract is characterized by the clear articulation of terms, which can either be in written form or verbally communicated. The defining feature of this type of contract is that all parties involved have explicitly stated their intentions and agreed upon the terms, leaving no ambiguity regarding their respective obligations and rights. This clarity is essential because it ensures that all parties have a mutual understanding of the contract's provisions, which aids in enforcement and compliance. Whether the agreement is documented in writing or communicated verbally, what sets an expressed contract apart is that the terms are explicitly declared, making them straightforward to interpret. In contrast, other types of contracts, such as implied contracts, do not rely on explicit statements but rather on the actions or circumstances of the parties involved, while unilateral and bilateral contracts pertain to different structures of agreement where one party makes a promise in exchange for a performance or both parties make mutual promises, respectively. Thus, an expressed contract's basis on a clear and direct agreement makes it the correct choice.

An expressed contract is characterized by the clear articulation of terms, which can either be in written form or verbally communicated. The defining feature of this type of contract is that all parties involved have explicitly stated their intentions and agreed upon the terms, leaving no ambiguity regarding their respective obligations and rights.

This clarity is essential because it ensures that all parties have a mutual understanding of the contract's provisions, which aids in enforcement and compliance. Whether the agreement is documented in writing or communicated verbally, what sets an expressed contract apart is that the terms are explicitly declared, making them straightforward to interpret.

In contrast, other types of contracts, such as implied contracts, do not rely on explicit statements but rather on the actions or circumstances of the parties involved, while unilateral and bilateral contracts pertain to different structures of agreement where one party makes a promise in exchange for a performance or both parties make mutual promises, respectively. Thus, an expressed contract's basis on a clear and direct agreement makes it the correct choice.