Express Contract

An Express Contract is a legally binding agreement that explicitly states its terms and conditions, either verbally or in writing, creating a clear agreement between parties.

AKA: Express Agreement.
Context:
- It can be formed through written documents, oral agreements, or a combination of both.
- It can include essential elements such as offer, acceptance, consideration, intention to be legally bound, and contractual capacity.
- It can provide a high degree of certainty and transparency, which is beneficial when disputes arise.
- It can be used in various situations, including real estate transactions, employment agreements, service contracts, and sales agreements.
- It can be distinguished from implied contracts, where terms are inferred from circumstances or conduct rather than explicitly stated.
- It can be enforced by courts when the explicit terms are breached by either party.
- It can be formed in both personal and commercial transactions, provided all legal elements of a contract are present.
- It can be subject to statutory requirements, such as the Statute of Frauds, which mandates certain contracts to be in writing.
- ...
Example(s):
- Service Agreements, which enable contract creation systems for outlining scope of services, payment terms, and other details.
- Purchase Agreements, which support transaction systems for buying products with specified terms.
- Real Estate Contracts, which facilitate property transfer systems with clearly stated sale prices and conditions.
- A written employment agreement, which details salary, duties, and benefits.
- An oral agreement between two parties for the sale of a car at a specified price.
- A signed lease contract outlining the terms of property rental between a landlord and tenant.
- ...
Counter-Example(s):
- Implied Contract, which lacks explicitly stated terms and conditions[4][7].
- Verbal Agreement without clear terms, which may not meet the criteria for an express contract due to lack of specificity[1].
- Quasi Contract, which is imposed by a court to prevent unjust enrichment, even though no explicit agreement exists.
- Unilateral Contract.
See: Contract Law, Contract Offer and Acceptance, Consideration (Contract Law), Legal Capacity, Mutual Assent.

References

2024a

(ChatGPT-OpenAI, 2024) ⇒ Prompt: Summarize the concept Express Contract in 1- 2 paragraphs. ChatGPT (model:gpt-4o). Retrieved: 2024-12-22.
- QUOTE: An express contract is a legally binding agreement where the terms and conditions are explicitly stated and agreed upon by the parties involved, either verbally or in writing. Unlike implied contracts, where the terms are derived through the actions, conduct, or circumstances of the parties, express contracts clearly outline what each party is obligated to do. This specificity helps reduce ambiguities and misunderstandings about the responsibilities and expectations each party has under the contract. The essential elements of an express contract include an offer, acceptance, consideration (something of value exchanged), mutual assent (agreement between parties), and legality (the contract must not involve illegal activities).
  Express contracts are common in both personal transactions and business transactions, such as employment agreements, sales contracts, and service agreements. They provide a clear framework for resolving disputes and are generally easier to enforce in a court of law due to the clearly articulated terms. The deliberate nature of an express contract ensures that all parties have a clear understanding of their rights and obligations, which helps mitigate potential conflicts and provides a basis for legal recourse should one party fail to honor the terms of the agreement.

2024b

(MyDock365, 2024) ⇒ MyDock365. (2024). "Implied Vs. Express Contracts: Understanding The Differences". In: MyDock365 Blog.
- QUOTE: An express contract is a type of contract in which the terms and conditions are explicitly stated, either in writing or verbally, by the parties involved. Unlike implied agreements, where the circumstances or conduct of the parties form the basis, express contracts leave no room for ambiguity regarding the terms and conditions. Express agreements provide a high degree of certainty and transparency. This clarity is beneficial when a dispute arises, as the parties can refer to the written or verbal agreement to determine their rights and obligations.

2024c

(Asheychik, 2024) ⇒ Olga Asheychik (2024). "Express Contracts vs. Implied Contracts - Difference". In: PandaDoc Blog.
- QUOTE: The main difference between the two is how they are formed: Express contracts are explicit, created verbally or in writing, whereas implied contracts are understood, defined by the actions of both parties.

2024d

(ContractsCounsel, 2024) ⇒ ContractsCounsel Team (2024). "Express Contract: What it Is and How it Works.".
- QUOTE: An express contract is an agreement that has been wholly spelled out either in writing or orally. This contract includes at least two parties who make legal promises to fulfill set/specified terms toward each other. They agree to be legally bound by these terms according to the law.

2023a

(Thomas & Korzeniewska, 2024]]) ⇒ Ben Thomas (author), and Margot Korzeniewska (Reviewer). (2024). "What is an Express Contract, and When Should You Use One?". In: Concord Blog.
- QUOTE: Express contracts stand out from other types, such as implied in fact contracts and quasi contracts, by the direct and clear manner in which they establish agreements:
  - Implied in fact contracts are formed through the conduct of the parties.
  - Quasi contracts are created by the court to avoid unjust enrichment.
  - Express contracts are based on the explicit agreement of the parties.

This distinction is essential in understanding how parties agree and enter into a contract.

2023b

(Asheychik, 2023) ⇒ Olga Asheychik (2023). "How to manage express contracts like a pro". In: PandaDoc Blog.
- QUOTE: An express contract is a type of agreement that is explicitly stated, either verbally or in writing, in simple and unambiguous terms.

2022a

(Juro, 2022) ⇒ Juro Team (2022). "What is an express contract?". In: Juro Learn.
- QUOTE: An express contract is a legally binding agreement with clearly stated terms, made either verbally or in writing. Within an express contract, the terms of an agreement are clearly communicated between the parties, which removes ambiguity and uncertainty.

2022b

(Ironclad, 2022) ⇒ Ironclad. (2022). "What Is an Express Contract? A Clear, Concise Record". In: Ironclad Journal.
- QUOTE: An express contract is an agreement where parties explicitly spell out the contract terms, either orally or in writing. In this type of contract, parties are fully aware of their agreed-upon terms. They also know the terms are binding, and that any party can take legal steps to enforce them.
  An example of an express contract is a franchise agreement between a franchisor and a franchisee. The franchisor allows the franchisee to do business under its brand in exchange for royalties and/or an initial franchise fee. The agreement explicitly states the franchise terms, and both parties sign the agreement.

2022c

(Wex Definitions Team, 2022) ⇒ Wex Definitions Team (2022). "Express contract". In: Legal Information Institute (LII), Cornell Law School.
- QUOTE: An express contract is an exchange of promises where the terms by which the parties agree to be bound are declared either orally or in writing, or a combination of both, at the time it is made.