An Implied Contract Is One in Which the Agreement Is

question 47

True/False

An implied contract is one in which the agreement is shown not by words, written or spoken, but by the acts and conduct of the parties.

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Definitions:

Latent Function

Unintended and often unrecognized outcomes that contribute to the adjustment or adaptation of a system.

Marxian

Related to the theories and writings of Karl Marx, especially with respect to his analysis of society, politics, and economics.

Capitalist Economy

An economic system where trade, industries, and the means of production are largely or entirely owned and operated by private individuals or businesses aiming for profit.

Diametrically Opposed

Completely opposite or contradictory; indicating two things that are as different from each other as possible.