An Implied-In-Fact Contract Is Implied from the Conduct of the Parties

question 13

True/False

An implied-in-fact contract is implied from the conduct of the parties.

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Definitions:

Open Market

A market where goods, services, and financial instruments are traded freely, with prices determined by supply and demand.

Net Asset Value

The total value of a fund's assets minus its liabilities, often used in the context of mutual funds to determine each share's price.

Investment Company

A corporation or trust engaged in the business of investing the pooled capital of investors in financial securities, such as stocks, bonds, and other assets.

Liabilities

Financial obligations or debts that a company owes to others, which must be paid back in the future.