express contract

   A contract in which all the elements (e.g., offer, acceptance, consideration) are specifically stated or written out, and the terms are made clear. Compare implied contract, in which the existence of the contract is assumed by the circumstances in which all the parties are acting.

Business law dictionary. 2015.

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  • express contract — see contract Merriam Webster’s Dictionary of Law. Merriam Webster. 1996. express contract …   Law dictionary

  • express contract — ➔ contract1 * * * express contract UK US noun [C] ► LAW a contract in which the details of an agreement are clearly stated: »The court will weigh up the facts of the situation rather than looking only at the express contract terms. → Compare… …   Financial and business terms

  • express contract — express and implied contracts An express contract is an actual agreement of the parties, the terms of which are openly uttered or declared at the time of making it, being stated in distinct and explicit language, either orally or in writing. An… …   Black's law dictionary

  • express contract — A contract, the terms of which are stated by the parties. 17 Am J2d Contr § 3. A contract which expresses the intentions of the parties in words. 58 Am J1st Wk & L § 2. Where there is an actual promise, a contract is said to be express; where… …   Ballentine's law dictionary

  • contract — con·tract 1 / kän ˌtrakt/ n [Latin contractus from contrahere to draw together, enter into (a relationship or agreement), from com with, together + trahere to draw] 1: an agreement between two or more parties that creates in each party a duty to… …   Law dictionary

  • express — ex·press 1 adj: directly and distinctly stated or expressed rather than implied or left to inference compare implied express 2 vt: to make known (one s thoughts, ideas, or opinions) by words, conduct, or symbols see also expression M …   Law dictionary

  • express and implied contracts — An express contract is an actual agreement of the parties, the terms of which are openly uttered or declared at the time of making it, being stated in distinct and explicit language, either orally or in writing. An implied contract is one not… …   Black's law dictionary

  • express — ▪ I. express ex‧press 1 [ɪkˈspres] verb [transitive] 1. to say what you think or feel about something: • The sales manager expressed caution about the deal. • The USA expressed reservations before eventually signing the agreement. • Worries have… …   Financial and business terms

  • contract — a legally binding agreement between two or more parties. Glossary of Business Terms A legally enforceable agreement between two or more parties for performing, or refraining from performing, some specified act; e.g., delivering 5,000 bushels of… …   Financial and business terms

  • Contract — A term of reference describing a unit of trading for a financial or commodity future. Also, the actual bilateral agreement between the buyer and seller of a transaction as defined by an exchange. The New York Times Financial Glossary * * * ▪ I.… …   Financial and business terms

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