First, Define an Express Contract and an Implied Contract

question 55

Essay

First, define an express contract and an implied contract. Next, present the three conditions that generally must be met for the courts to find an implied contract, and provide an example of an express contract, and an implied contract.

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Definitions:

Debt To Equity

The ratio signifying the comparative investment of shareholders' equity and debt in a company's assets.

Perpetuity Formula

A formula used to calculate the value of an endless series of cash flows, assuming a constant rate of return.

Cost

The monetary value spent to acquire goods or services, including manufacturing, production, or purchase costs.

Common Stock

Equity ownership in a corporation, giving shareholders voting rights and a share in the company's profits through dividends.