What are the two types of contract law?

What are the two types of contract law?

• A. Verbal, Unwritten
• B. Implied (verbal), Expressed (written)
• C. Verbal, Oral
• D. Written, Unilateral

Answer: (B)

The correct option highlights the two primary categories of contract law: implied and expressed contracts. An expressed contract is one where the terms are explicitly stated, either verbally or in writing, leaving no room for ambiguity about what the parties have agreed upon. For example, when two parties sign a lease agreement, they create an expressed contract because the terms are clearly outlined and documented. On the other hand, an implied contract is formed through the actions, conduct, or circumstances of the parties rather than through direct verbal or written communication. For instance, when a person orders food at a restaurant, it is implied that they will pay for the meal, even though no explicit agreement was made at the time of ordering. Focusing on these two types helps in understanding the various ways legal obligations can be formed and recognized in contract law, ensuring that parties understand their rights and responsibilities under different circumstances.

The correct option highlights the two primary categories of contract law: implied and expressed contracts. An expressed contract is one where the terms are explicitly stated, either verbally or in writing, leaving no room for ambiguity about what the parties have agreed upon. For example, when two parties sign a lease agreement, they create an expressed contract because the terms are clearly outlined and documented.

On the other hand, an implied contract is formed through the actions, conduct, or circumstances of the parties rather than through direct verbal or written communication. For instance, when a person orders food at a restaurant, it is implied that they will pay for the meal, even though no explicit agreement was made at the time of ordering.

Focusing on these two types helps in understanding the various ways legal obligations can be formed and recognized in contract law, ensuring that parties understand their rights and responsibilities under different circumstances.