implied contract
Definition
Legally enforceable agreement that arises from the conduct, assumed intentions, some relationship among the immediate parties, or due to the application of the legal principle of equity. For example, a contract is implied when a party knowingly accepts a benefit from another party in circumstances where the benefit cannot be considered a gift. Therefore, the party accepting the benefit is under a legal obligation to give fair value for the benefit received. Opposite of express contract. See also implied in fact contract and implied in law contract.
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implied contract is in the Agreements & Contracts and Corporate, Commercial, & General Law subjects.
implied contract appears in the definitions of the following terms: loan for exchange, express contract, lease, bailment, loan for use, lien, plea of never indebted, organizational culture, loan for consumption and duty
implied contract appears in these other term: implied contract of employment
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