Final answer:
An implied contract is a legally enforceable obligation that arises from one or more parties due to the parties' actions, conduct, or circumstances. It is not explicitly stated or written down, but it is inferred from the behavior and interactions of the parties involved.
Step-by-step explanation:
An implied contract is a legally enforceable obligation that arises from one or more parties due to the parties' actions, conduct, or circumstances. It is not explicitly stated or written down, but it is inferred from the behavior and interactions of the parties involved.
For example, if you go to a restaurant and order a meal, there is an implied contract between you and the restaurant. You are expected to pay for the meal, and the restaurant is expected to provide the food and service.
An implied contract can also be created through the course of dealing between parties. For instance, if you regularly buy coffee from a specific shop and they always charge you a certain amount, there is an implied contract that you will continue to pay that amount for your coffee.