An implied agreement is a type of contract that is not explicitly stated or written down, but rather is inferred through the actions or behavior of the parties involved. In other words, an implied agreement is an agreement that is understood or assumed to exist based on the circumstances of the situation.
There are several types of implied agreements that can be formed in different contexts, such as in employment, real estate, and business transactions. For example, when someone starts working for a company without signing a contract, they are often assumed to have agreed to the terms and conditions of employment by virtue of their actions. Similarly, when a buyer purchases a product or service from a seller, they may be assumed to have agreed to certain terms and conditions that are not explicitly spelled out in a written contract.
In order for an implied agreement to be valid, there must be a clear and mutual understanding of the terms and conditions involved. This can be established through a variety of means, such as verbal communication, past practices, or industry standards. For example, in the case of an employment agreement, the terms and conditions may be established through previous practices within the industry, such as standard working hours and pay rates.
It is important to note that implied agreements can be just as legally binding as written agreements, and can be enforced in a court of law. However, the lack of a written agreement can make it more difficult to prove the existence and terms of the agreement, which can lead to disputes and legal challenges.
In summary, an implied agreement is a type of contract that is inferred through the actions or behavior of the parties involved. It can be formed in a variety of contexts and must be mutually understood in order to be valid. While implied agreements can be legally binding, the lack of a written agreement can make them more challenging to prove and enforce.