Practice Quiz

Paralegal Exam Prep

Category - Contracts

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What is an implied in fact contract?
  1. An implied in fact contract is an agreement that is not supported by past consideration.
  2. An implied in fact contract is an agreement that is supported by past consideration.
  3. An implied in fact contract is an unenforceable agreement.
  4. An implied in fact contract is an unwritten agreement.
  5. An implied in fact contract is an agreement that is unwritten and not explicitly stated whose terms result from the actions of the parties involved.
Explanation
Answer: E. An implied in fact contract is an agreement that is unwritten and not explicitly stated whose terms result from the actions of the parties involved. A contract can also be implied in law. An implied in law contract is an obligation that the courts will enforce to prevent unjust enrichment.
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