Please explain implied contract in brief using simple language.?
Implied Contract
An implied contract is a type of contract that is not explicitly stated in words but is inferred from the actions, conduct, or circumstances of the parties involved. It is based on the principle that parties should be held to their promises, even if those promises were not clearly articulated.
Key Points:
- **Implied Intent:** In an implied contract, the intent to be bound by the terms of the contract is implied from the behavior of the parties. For example, if you order food at a restaurant, there is an implied contract that you will pay for the meal.
- **Types of Implied Contracts:** There are two main types of implied contracts: implied-in-fact contracts and implied-at-law contracts. Implied-in-fact contracts are inferred from the conduct of the parties, while implied-at-law contracts are imposed by the court to prevent unjust enrichment.
- **Elements of Implied Contracts:** To establish an implied contract, certain elements must be present, such as an offer, acceptance, consideration, and mutual intent to be bound by the terms.
- **Enforceability:** Implied contracts are generally enforceable in court, just like express contracts. However, it may be more challenging to prove the terms of an implied contract since they are not explicitly stated.
- **Examples:** Common examples of implied contracts include purchasing goods at a store, hiring someone to perform a service, or accepting a job offer and starting work without a written contract.
In conclusion, an implied contract is a legally binding agreement that is inferred from the actions or conduct of the parties involved. It is essential to understand the elements and implications of implied contracts to avoid any misunderstandings or disputes.