Final answer:
An implied contract is formed through actions rather than explicit words or writings, with terms suggested by the behavior of the involved parties. Breaches in such agreements can be addressed through the legal system, underlining the significance of contractual and property rights.
Step-by-step explanation:
A contract created by actions rather than oral or written words is referred to as an implied contract. These are contracts where the terms and actions by the parties involved dictate that there is an agreement, even though no written or verbal confirmation has been exchanged. For instance, when a patient is treated by a surgeon, it is understood that the surgeon expects to be paid.
Should the patient fail to pay, they have breached the implied contract, essentially committing property theft of the surgeon's services. The legal system provides recourse for breaches of such contracts, offering mechanisms for the injured party to seek remedy, highlighting the importance of contractual rights and property rights in facilitating the reliable exchange of goods, services, and payments in society.