Examlex
Suppose that a bus company is deciding where to locate its central hub. There are 6 possible destinations for the buses. Suppose that the centre of town will be used as the reference for describing the possible destinations. A is located 5 miles South and 3 miles West. B is located 3 miles North and 2 miles East. C is located 1 mile South and 5 miles East. D is located 2 miles North and 3 miles West. E is located exactly in the centre of town. F is located 10 miles North and 5 miles East. Assume that traffic to each destination will be equal. Where should the hub go so that travel time is minimized?
Unilateral Contract
A contract where one party makes a promise in exchange for a performance by the other party, which acts as acceptance of the offer.
Express Contracts
An express contract is a clearly stated agreement between parties, where the terms are explicitly mentioned either orally or in writing.
Implied Contracts
Agreements inferred from the actions, behavior, or circumstances of the parties involved, rather than from written documentation or explicit verbal agreement.
Article 2
Refers to a section of the Uniform Commercial Code that governs the sale of goods.
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