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An Express Contract is a type of agreement where all the terms are clearly stated and understood by everyone involved. This can be in writing or spoken aloud. It's like when two people make a deal, and they both know exactly what they're agreeing to.
Suppose a homeowner hires a painter to paint their house for $2,000. They both sign a written agreement, stating the price and the work to be done. This written agreement is an example of an express contract because all the terms are clear and understood by both parties.
"A Deep Dive for Real Estate Agents "
An oral express contract is an agreement where the terms are spoken aloud and understood by both parties involved, without being put in writing. Here's an example:
Imagine a neighbor asks a teenager to mow their lawn for $30. They discuss the job in person, and the teenager agrees to mow the lawn on Saturday for that amount. Even though there is no written document, they have an oral express contract because they have clearly discussed and agreed upon the terms of the job, such as the work to be done and the payment to be received.
"Wit & Whimsy with the Dumb Ox: Unlocking Knowledge with Rhyme:"
In the world of contracts, there's one kind that's clear,
An Express Contract, my friend, do not fear.
It tells you the terms, all out in the open,
So everyone knows, just what they've been hopin'.
It can be written or spoken, just so you know,
The key is the clarity, that's how it goes.
Like a painter and homeowner, who make a deal,
With terms understood, an Express Contract's the real.