An Implied Contract Is a Contract Which Is Made Either

question 12

True/False

An implied contract is a contract which is made either verbally or in writing.

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Definitions:

Financial System

A network of institutions, markets, instruments, and mechanisms that facilitate the exchange of funds and the allocation of resources in an economy.

Certificate Of Indebtedness

A government or corporate bond that acknowledges a debt and the obligation to repay it with interest by a specified date.

Partial Ownership

Holding a fraction of the total equity or interest in an asset or a company, as opposed to full ownership.

Mutual Fund

An investment vehicle made up of a pool of funds collected from many investors for the purpose of investing in securities such as stocks, bonds, money market instruments.