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Investments glossary

Implied Contract


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Reality is the crutch for people who can\'t cope with drugs.

— Lily Tomlin

An implied contract is a legally-binding obligation that derives from actions, conduct, or circumstances of one or more parties in an agreement. It has the same legal force as an express contract, which is a contract that is voluntarily entered into and agreed on verbally or in writing by two or more parties. The implied contract, on the other hand, is assumed to exist, but no written or verbal confirmation is necessary.

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