Ace The Introductory Business Law CLEP 2025 – Smash Your Way to Success!

Question: 1 / 400

What type of contract specifies the time and place of performance?

Unilateral Contract

Bilateral Contract

Express Contract

An express contract is a legal agreement where the terms and conditions are clearly stated and both parties have explicitly agreed to them. In contrast, a unilateral contract only requires one party to fulfill the terms, while a bilateral contract requires both parties to perform. An implied contract is not explicitly stated but rather inferred from the actions or behavior of the parties involved. Therefore, an express contract is the only type of contract that clearly specifies the time and place of performance, making it the correct choice.

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Implied Contract

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