BACHELOR OF BUSINESS ADMINISTRATION

Detailed explanation-1: -An implied contract is an agreement between two parties that is not expressly stated in writing or verbally, but is inferred from the actions or behavior of the parties involved. The existence of an implied contract is typically demonstrated by one party’s reliance on the other party’s actions or words.

Detailed explanation-2: -A contract implied in fact consists of obligations arising from a mutual agreement expressed not through words but implied through actions. To support a contract implied in fact, facts and circumstances surrounding the actions must show a mutual intent to contract.

Detailed explanation-3: -A term should not be implied into a detailed commercial contract merely because it appears fair or merely because the court considers the parties would have agreed it if it had been suggested to them. The test is one of necessity, not reasonableness.

Detailed explanation-4: -An express contract and a contract-implied-in-fact both require mutual assent and a meeting of the minds. However, an express contract is proved by an actual agreement (either written or oral), and a contract-implied-in-fact is proved by circumstances and the conduct of the parties.