An Implied-In-Fact Contract Is One Based on the Conduct of the Parties

question 20

True/False

An implied-in-fact contract is one based on the conduct of the parties.

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Definitions:

Imports

Goods and services brought into one country from another for sale, typically subject to tariffs and trade agreements.

Buyers

Individuals or entities that purchase goods or services.

Import Quotas

Limits set by a government on the quantity or value of goods that can be imported into a country, often used to protect domestic industries from foreign competition.

Tariffs

Taxes imposed by a government on imported goods, often to protect domestic industries or to raise revenue.