Implied Contracts – Drafting and Documentation in Chennai Law Forum

An Implied Contract is an agreement that exists without the parties actually stating a promise or commitment in words. It is based on the actions of two people or groups of people and their surrounding circumstances.

There are many types of implied contracts. One is an express contract, which is a formal and written agreement that includes an offer, acceptance, and some form of consideration.

Another type of implied contract is an implied-in-law contract, which occurs when a party agrees to provide services that would be considered unjust or unfair if it did not receive compensation. A doctor, for example, may agree to provide medical treatment for a neighbor who suffers from a heart attack.

A person may also enter into an implied contract if they have a past relationship with another individual that has created an obligation to them. If Company A has purchased supplies from a supplier several times before, they may agree to pay the current market price in return for them.

It is important to remember that an implied contract is legally binding, regardless of the absence of written documentation. It binds both sides to the terms of the agreement and requires them to honour those terms in all circumstances.

It is essential to work with a good lawyer when it comes to drafting implied contracts. They can help you craft an agreement that protects your interests, is completely legal and will stand up in court should a dispute arise. Moreover, they can ensure the contract is fully elaborated and contains choice of law and forum clauses.