Tacit Contract
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A tacit contract is an agreement or understanding between two parties that is not explicitly stated in writing or verbally expressed. Rather, it is implied or understood through the actions or behaviour of the parties involved.
For example, when you enter a store and pick up a product, there is an implicit understanding that you will pay for it at the checkout counter. Similarly, when you work for an employer and receive regular paychecks, there is an unspoken agreement that you will perform your job duties in exchange for compensation.
Tacit contracts can be legally binding and enforceable in certain situations, particularly if there is a history of behaviour or practices that suggest an agreement between the parties. However, they can also be more difficult to prove or enforce compared to explicit contracts that have clear terms and conditions.
For example, when you enter a store and pick up a product, there is an implicit understanding that you will pay for it at the checkout counter. Similarly, when you work for an employer and receive regular paychecks, there is an unspoken agreement that you will perform your job duties in exchange for compensation.
Tacit contracts can be legally binding and enforceable in certain situations, particularly if there is a history of behaviour or practices that suggest an agreement between the parties. However, they can also be more difficult to prove or enforce compared to explicit contracts that have clear terms and conditions.
