What is an express contract?

An express contract is a type of contract that is clearly outlined and agreed upon by all parties involved. This type of contract can be either written or verbal, as long as the terms and conditions are explicitly stated and understood by all parties.

Some key elements of an express contract include:

1. Offer and acceptance: One party must make an offer and the other party must accept it in order for the contract to be formed.

2. Consideration: Each party must provide something of value in exchange for the promises made in the contract.

3. Terms and conditions: The terms and conditions of the contract must be clearly defined and understood by all parties involved.

4. Intent to create legal relations: Both parties must have a mutual intent to enter into a legal relationship and be bound by the terms of the contract.

5. Capacity to contract: Both parties must have the legal capacity to enter into a contract, meaning they are of legal age and sound mind.

Express contracts are legally binding and enforceable in a court of law. If one party fails to uphold their end of the agreement, the other party has the right to seek legal remedies, such as damages or specific performance.