The Difference Between an Express Contract and an Implied in Fact

question 32

True/False

The difference between an express contract and an implied in fact contract is the manner in which the parties manifest assent.

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Definitions:

Autocratic Methods

Management styles characterized by individual control over all decisions and little input from group members, often leading to a centralized decision-making process.

Paternalistic Methods

Management practices that involve overseeing workers in a fatherly manner, where decision-making is centralized and based on the assumption that employers know what is best for their employees.

Financial Solvency

The ability of an individual or organization to meet long-term financial obligations, indicating financial health.

Aggressiveness

The degree to which an individual, group, or entity approaches situations with forcefulness or assertiveness, potentially impacting interactions and outcomes in various contexts.