A Court Will Sometimes Recognize the Existence of an Implied

question 6

True/False

A court will sometimes recognize the existence of an implied term from discussions that the parties had prior to entering into the contract.

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Definitions:

Vision Statement

A forward-looking declaration made by an organization that outlines what the organization wants to be or how it wants the world in which it operates to be (an "idealized" view of the world).

Strategic Intent

A company's vision of what it wants to achieve in the long term, guiding its goals, actions, and resource allocation.

Intangible

Describes assets or value that cannot be physically touched or seen but have importance or worth, such as intellectual property or brand reputation.

Acquisition

The purchase of one company by another.