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A term may either be expressed or implied. An express term is one stated by the parties during negotiation or written in a contractual document. Implied terms are not stated but nevertheless form a provision of the contract.
Terms implied "in law" are confined to particular categories of contract, particularly employment contracts or contracts between landlords and tenants, as necessary incidents of the relationship. For instance, in every employment contract, there is an implied term of mutual trust and confidence, supporting the notion that workplace relations ...
Urdu-language words and phrases (2 C, 49 P) ... Text is available under the Creative Commons Attribution-ShareAlike 4.0 License; additional terms may apply.
In a contract for ‘new Singer cars’ the clause was ‘all conditions, warranties and liabilities implied by statute, common law or otherwise are excluded.’ One car delivered was used. Greer LJ noted they were probably trying to avoid Wallis but the defendants had forgotten about express terms. Here an express term was broken.
Time to expiration: Shorter-term options typically have lower implied volatility because of the limited time frame for price moves. Longer-term options, on the other hand, can exhibit higher ...
Meanwhile, the Indian Contract Act, 1872 which continues in force in Pakistan, Bangladesh, and India (the most populous common law jurisdiction) provides that valid consideration exists "when at the desire of the promisor, the promisee or any other person has done or abstained from doing, or does or abstains from doing, or promises to do or ...
Quantum meruit is the measure of damages where an express contract is mutually modified by the implied agreement of the parties, or not completed. While there is often confusion between the concept of quantum meruit and that of "unjust enrichment" of one party at the expense of another, the two concepts are distinct.
An expression of consent is one that is unmistakably stated, rather than implied. It may be given in writing, e.g. contract, [3] by speech (orally), or non-verbally, e.g. by a clear gesture such as a nod. Non-written express consent not evidenced by witnesses or an audio or video recording may be disputed if a party denies that it was given.