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Contracts are legally binding agreements that individuals or businesses enter into with one another. While there are many different types of contracts, they can generally be classified into different categories based on the reasons or causes that led to their creation. In this article, we will explore the different classifications of contracts based on cause.
1. Express Contracts
Express contracts are those that are created through verbal or written communication. These are the most common types of contracts and are usually straightforward and easy to understand. Express contracts are used in many situations, such as employment contracts, lease agreements, and sales contracts.
2. Implied Contracts
Implied contracts are those that are not expressed in writing or speech but are created based on the conduct of the parties involved. These types of contracts are used when there is an understanding between the parties that a contract exists, although it may not have been explicitly stated.
3. Quasi-Contracts
Quasi-contracts are those that are created by law rather than the agreement of the parties involved. These contracts are used to prevent injustice and ensure that people are treated fairly. For example, if a person is injured and receives medical treatment, they may be required to pay for the treatment even if they did not explicitly agree to it.
4. Unilateral Contracts
Unilateral contracts are those that are created when one party makes an offer that the other party can accept by performing a specific action. These types of contracts are used in situations such as rewards for finding a lost item or paying for services after they have been rendered.
5. Bilateral Contracts
Bilateral contracts are those that are created when two parties make an agreement to exchange something of value. In these types of contracts, both parties are bound to fulfill their obligations. Examples of bilateral contracts include employment agreements, purchase agreements, and rental agreements.
6. Void Contracts
A void contract is one that is not legally enforceable because it is either illegal or against public policy. For example, a contract to sell illegal drugs would be considered void.
7. Voidable Contracts
A voidable contract is one in which one party has the right to cancel the contract due to fraud, misrepresentation, coercion, or other factors that make the agreement unfair. Once the contract is canceled, it is no longer legally binding.
In conclusion, contracts can be classified into different categories based on the reasons or causes that led to their creation. Understanding the different classifications of contracts is essential for anyone entering into an agreement, as it can help ensure that the contract is legally enforceable and protects all parties involved. As a copy editor, it is important to be aware of the proper terminology and language used in legal documents to avoid ambiguity and confusion.
