What is implied in a contract?

A contract is an agreement between two or more parties that creates a legal obligation. In California, contract law is based on the legal concept of "implied in law," which means that certain rights and obligations are implied in all contracts, even if the parties do not explicitly state them. Under this concept, certain duties and obligations are assumed to be included in a contract, even if they are not stated. For example, the law implies that both parties to a contract must act in good faith and deal fairly with one another. This means they must act honest and fairly in their dealings with each other throughout the duration of the contract. Additionally, they must have the capacity to understand the terms of the contract and they cannot enter a contract if they are under the influence of drugs or alcohol. In addition, the law implies that the parties to a contract must abide by all laws and regulations related to the contract. This includes complying with any state or federal laws related to the type of transaction being conducted, such as tenant-landlord laws. Finally, the law implies that both parties must perform the contractual duties required of them. This means that both parties must do what they promised to do in the contract. Failure to perform the duties required of them can result in a breach of contract, which could lead to legal action taken against one or both parties.

Related FAQs

What is implied in a contract?
What is a unilateral contract?
What is a third-party beneficiary?
What are the remedies for breach of contract?
What is a material alteration of a contract?
What is rescission of a contract?
What is the doctrine of privity?
What is a contract of sale?
What is acceptance of a contract?
What is the effect of illegality in a contract?

What is implied in a contract?

Related FAQs

Related Blog Posts