Question

Nelly hops on up to Cris and offers Cris $100 for his diamond earring. Cris, without saying a word, takes off his iced stud and gives it to Nelly. This best represents a(n):.

A.Implied-in-Fact Contract.
B. Implied-in-Law Contract
C. 50 Cent Contract.
D. Void Contract.

Answer 1

Nelly and Cris's exchange represents an Implied-in-Fact Contract where agreement is shown through their actions, forming a contract implied by non-verbal conduct.

Step-by-step explanation:

The scenario described best represents an Implied-in-Fact Contract. In the case described, Nelly offers Cris money for his diamond earring, and without verbal agreement, Cris accepts by performing the act of removing and giving the earring to Nelly. This forms a contract through the actions and conduct of the parties involved rather than through express written or spoken words. An Implied-in-Fact Contract is created by the circumstances and behavior of the parties that clearly indicate an agreement has been made.