Examlex
Patents for new processes,machines,devices,etc.are known as
Formal Contract
A contract that must have a special form or must be created in a specific manner.
Simple Contract
A contract that is not a formal contract. Also called an informal contract.
Third-Party Beneficiary
A third-party beneficiary is a person who, although not a party to the contract, stands to benefit from the contract's execution or has rights that can be enforced under the contract.
Quasi-Contract
An obligation imposed by law in order to prevent unjust enrichment, treated as a contract for the purpose of remedy despite the lack of a formal agreement.
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