Examlex
The stock in Camel Corporation is owned by Albert and Tomoko,who are unrelated.Albert owns 30% and Tomoko owns 70% of the stock in Camel Corporation.All of Camel Corporation's assets were acquired by purchase.The following assets are to be distributed in complete liquidation of Camel Corporation:
Express Contract
A contract explicitly stated by the parties, either orally or in writing, detailing the terms clearly.
Contract Formed
refers to the creation of a legally binding agreement that arises when an offer by one party is accepted by another party, meeting the necessary legal requirements.
Unilateral Contract
A contract where one party makes a promise in exchange for the performance of a specified act by the other party, who is not obligated to perform.
Quasi Contract
An obligation imposed by law to prevent unjust enrichment, where no actual contract exists.
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