Which of the following are two terms for the same concept or situation?
A) implied-in-law contract and implied-in-fact contract
B) implied-in-law contract and quasi-contract
C) implied-in-fact contract and quasi-contract
D) unilateral contract and informal contract
E) formal contract and implied-in-law contract

Question

Quizplus · Accepted Answer

Implied-in-law contracts and quasi-contracts refer to the same concept. Both are contracts imposed by law in order to prevent unjust enrichment. Implied-in-fact contracts, on the other hand, are actual contracts formed through the conduct of the parties involved. Unilateral contracts are contracts in which only one party makes a promise, while informal contracts are those that lack a written document but are still legally enforceable. Finally, formal contracts are those that require a specific form or format, such as a written document or a signed agreement.

Which of the Following Are Two Terms for the Same