Implied Contracts
An implied contract is an agreement that is not explicitly stated but is inferred from actions, conduct, or circumstances of the parties involved. For example, when you visit a restaurant and order food, it is understood that you will pay for the meal, even though no formal contract is signed. This type of contract is based on the assumption that both parties intend to create a mutual obligation.
Implied contracts can be categorized into two types: implied-in-fact contracts and implied-in-law contracts. An implied-in-fact contract arises from the behavior of the parties, while an implied-in-law contract, also known as a quasi-contract, is created by law to prevent unjust enrichment, even if no actual agreement exists.