Implied Contract

An implied contract is a contract that is not explicitly stated in writing, but is implied by the actions of the parties involved. For example, if you go to a restaurant and order a meal, you are entering into an implied contract with the restaurant to pay for the meal. The restaurant is implied to be agreeing to provide you with the meal, and you are implied to be agreeing to pay for it.

Implied contracts can be created in a variety of ways. One way is through the actions of the parties involved. For example, if you go to a store and pick up a product, you are implied to be entering into a contract to buy the product. The store is implied to be agreeing to sell you the product, and you are implied to be agreeing to pay for it.

Another way that implied contracts can be created is through the course of dealing between the parties. For example, if you have been doing business with a company for a long time, you may have an implied contract with the company to continue doing business with them. The company is implied to be agreeing to continue to do business with you, and you are implied to be agreeing to continue to do business with them.

Implied contracts can also be created through the use of trade usage. Trade usage is a practice that is common in a particular industry or business. For example, if it is common practice in the construction industry to pay subcontractors within 30 days, then there is an implied contract between the general contractor and the subcontractors that the general contractor will pay the subcontractors within 30 days.

Implied contracts can be just as binding as written contracts. However, it can be more difficult to prove the existence of an implied contract. If there is a dispute over whether or not an implied contract exists, the court will look at the actions of the parties involved to determine whether or not there was an implied contract.

It is important to be aware of the possibility of implied contracts when you are doing business. If you are not sure whether or not you have entered into an implied contract, you should consult with an attorney.