Ryan_Fitts_LS311-04_Unit_4_Case_Analysis

Ryan_Fitts_LS311-04_Unit_4_Case_Analysis - Case Analysis 1...

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Unit 4 Case Analysis By: Ryan Fitts LS311-04 1
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An implied contract when the existence of the contract is assumed by the circumstances. A contract is implied when a party knowingly accepts a benefit from another party in a circumstance where the benefit cannot be considered a gift. The party accepting the benefit is under a legal obligation to give a fair value for the benefit received. Implied is the opposite of expressed contract. When someone makes you an offer and you do not respond to it, you normally will not be bound to a contract since silence is generally not considered an acceptance, if you do not intent to accept. "In order for silence to be considered acceptance, there usually are some prior dealings between the two parties and that it is customary for the two parties to treat silence as an acceptance. Another way that silence
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This note was uploaded on 05/26/2011 for the course BUS L 311 taught by Professor Markskipper during the Spring '11 term at Kaplan University.

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Ryan_Fitts_LS311-04_Unit_4_Case_Analysis - Case Analysis 1...

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