The definition of implied is that something is not explicitly stated but rather suggested or inferred. It describes a situation where the words may not have been spoken or written but the meaning is still apparent through their actions or words.
For example, when a couple is dating, they may not have discussed what their commitment level is, but their actions and behavior imply that they are in an exclusive relationship. In the business world, an implied contract means that a person has made a promise or assumed a responsibility without having communicated it verbally or in writing. In either case, the implications of the actions taken are implied.
Implied in Legal Terms
In legal terms, implied is a term used to describe a type of understanding within a contract. It is an agreement that is not explicitly stated but rather is inferred or suggested by the conduct or acts of the parties involved. Though this agreement may not be stated explicitly, it is still considered legally binding.
For example, if two individuals enter into a business arrangement, even if they do not explicitly outline the rights, duties, and responsibilities of each person, an implied contract is still assumed to exist between the two parties. This means that each party is legally obligated to fulfill the terms of the agreement, even if they verbaqlly agreed to nothing.
Implied Law Contracts
In some instances, an implied law contract is put in place. This is done when there is evidence that an individual or company intended to form an agreement, but there no contract was actually signed. This could include evidence of past actions, communications, and behavior between the two parties that can be interpreted as acceptance of the agreement or promise. In any case, an implied law contract is still considered legally binding.
In summary, implied means that something is not explicitly stated, but instead is suggested or inferred. In the legal world, an implied contract is a legally binding agreement that is created without verbal communication or a formal written contract. Understanding these concepts is critical for any business professional or entrepreneur.