Express Agreement Definition with Example
In legal terms, an express agreement is a contract that is created when two or more parties come together and agree on specific terms and conditions of their transaction. This type of agreement is formed by making a clear and unambiguous offer and acceptance between the parties involved. In this article, we will discuss the definition of express agreement and provide examples to help you understand it better.
Express Agreement Definition
An express agreement is a legally binding contract that is created when the parties involved agree on specific terms, whether it`s in writing, verbal, or through actions. It`s called an express agreement because all terms and conditions are explicitly stated and agreed upon between all parties involved.
These agreements can be simple or complex, and they`re used in various business transactions between companies, vendors, clients, or employees. An express agreement can address any range of issues, including prices, payment terms, length of the agreement, warranties, and limitations of liability.
Express Agreement Example
Let`s say you are a freelance web developer, and you`re hired by a client to build a new website for their business. In this scenario, a simple express agreement could be as follows:
1. Offer: You agree to build a website for the client within 30 days of receiving all the necessary information to complete the project.
2. Acceptance: The client agrees to pay you a total of $5,000 for the website project upon completion and delivery.
3. Warranties: You warrant that the website will be fully functional, free from any errors, and will not infringe on any copyrights or other intellectual property rights.
4. Limitation of Liability: Both parties agree that neither will be liable for any indirect, special, or consequential damages arising from the website or its use.
By creating an express agreement, both parties are clear on what they expect from each other and what they`re getting out of the deal. This protects both parties` interests and helps to ensure that the project runs smoothly without any misunderstandings or disputes.
In conclusion, an express agreement is a legally binding contract that is created between parties when they mutually agree upon the specific terms and conditions of their transaction. It`s important to create express agreements to ensure that both parties understand the expectations, obligations, and benefits of the deal. Whether it`s a simple agreement or a complex one, clear communication is crucial to avoid any problems or misunderstandings in the future.