Contractual agreements can come in many forms, from written documents to verbal agreements. These agreements can be expressed or implied, and both types have their own advantages and disadvantages.
Expressed contracts are written or spoken agreements between two or more parties. These contracts clearly state the terms of the agreement and are often the preferred method of contractual agreement. Expressed contracts ensure that all parties involved are on the same page and understand each other`s expectations. They also provide a clear record of the agreement, making it easier to resolve any disputes that may arise.
Written contracts, in particular, are important in protecting all parties involved in the agreement. They can be formalized into legal documents that can be enforced in court if necessary. Written contracts are often preferred when dealing with larger transactions or more complex agreements.
On the other hand, implied contracts are agreements that are not explicitly stated but can be inferred from the behavior of the parties involved. Implied contracts are often used in situations where the parties have a pre-existing relationship or history of working together. These agreements are not as clear as expressed contracts and can be difficult to enforce if there are any disputes.
While implied contracts may seem less reliable than expressed contracts, they can still be effective in preventing misunderstandings. If both parties have worked together in the past and have a good working relationship, an implied contract can be a simple and effective way to get work done without formalizing everything into a written document.
However, it`s important to note that implied contracts can also be risky. Without a clear understanding of the terms and conditions of the agreement, there can be misunderstandings and disputes. This can also result in parties failing to meet their obligations, causing tensions in the relationship.
In conclusion, contractual agreements can come in many forms, and both expressed and implied contracts have their own advantages and disadvantages. Expressed contracts are preferred in most situations as they provide a clear record that can be enforced if necessary. However, if parties have a history of working well together, an implied contract can also be effective, so long as both parties understand the terms and obligations involved in the agreement.