Which of the following is correct about implied and express contracts? Implied contracts can be legally binding while express contracts cannot. Express contracts explicitly state the terms of the contract while implied contracts are established by the parties' actions. Implied contracts explicitly state the terms of the contract while express contracts are established by the parties' actions. Express contracts can be legally binding while implied contracts

Understanding Business
12th Edition
ISBN:9781259929434
Author:William Nickels
Publisher:William Nickels
Chapter1: Taking Risks And Making Profits Within The Dynamic Business Environment
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Which of the following is correct about implied
and express contracts?
Implied contracts can be legally binding while
express contracts cannot.
Express contracts explicitly state the terms of
the contract while implied contracts are
established by the parties' actions.
Implied contracts explicitly state the terms of the
contract while express contracts are established
by the parties' actions.
Express contracts can be legally binding while
implied contracts
Transcribed Image Text:Which of the following is correct about implied and express contracts? Implied contracts can be legally binding while express contracts cannot. Express contracts explicitly state the terms of the contract while implied contracts are established by the parties' actions. Implied contracts explicitly state the terms of the contract while express contracts are established by the parties' actions. Express contracts can be legally binding while implied contracts
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