What are the types of contracts?

In Nebraska, contracts are legally binding and enforceable agreements that can be written, verbal, or implied. Generally, contracts fall into three main categories: 1. Express Contracts are agreements in which the terms are clearly stated and agreed to by both parties. This type of contract is the most common and can be either written or verbal. It may include things like the exchange of goods and services, employment, leasing property, and loan agreements. 2. Implied Contracts are agreements involving duties or promises that are not expressed in words. This could include things like reaching a mutual agreement without written contracts, making a reasonable assumption that the parties will act in good faith, and performing a commercial transaction. 3. Quasi-contracts are contracts that are not created by the parties involved but are instead created by the courts. These are agreements that the court forms to protect the parties from unjust enrichment when the parties did not enter into a contract. Understanding the types of contracts can help businesses and individuals make informed decisions. It is important to always consult an experienced lawyer to ensure that any contracts you enter into are valid and legally enforceable.

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