Question

QUESTION 50 On behalf of the rock group Iron Maiden, their manager, Lars agrees to a performance in Yankee Stadium on July 4. Hetfield, acting for Iron Maiden, sends a written copy of the agreement to Lars to be signed. If Lars signs the copy, the parties will have a. an implied contract. b. an implied-in-law contract. can express contract. d. no contract.

Answer 1

Answer-

c.an express contract

As per the Express Contract,the terms and condition of an agreement are clearly pre-specified in written or oral form,however a contract is only acceptable by law when it is written.An oral agreement is not legally accepted.The above contract is express contract because here it is clearly written.

In implied contract,the terms and conditions are not pre specified in written form rather is agreed upon by the actions of the respective parties.It is of two types implied-in-law and implied-in-fact.

Express contract is easy to implement as in case of non-fulfillment of contract,this can be proved by simply producing a document whereas in such case of implied contract it can be a matter of argument.