Express Contracts
An express contract is a type of agreement where the terms are clearly stated, either verbally or in writing. Both parties involved explicitly communicate their intentions, making it easy to understand what is expected from each side. This clarity helps prevent misunderstandings and disputes.
These contracts can cover various subjects, such as services, sales, or leases. For example, a real estate agreement outlining the sale of a property is an express contract. Because the terms are clearly defined, express contracts are often enforceable in a court of law if one party fails to meet their obligations.