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Real Estate Licensing Virginia Real Estate Salesperson Exam - Topic 1 Question 17 Discussion

Which of the following is correct about implied and express contracts?
C) Express contracts explicitly state the terms of the contract, while implied contracts are established by the parties' actions.
A) Implied contracts can be legally binding, while express contracts cannot.
B) Express contracts can be legally binding, while implied contracts cannot.
D) Implied contracts explicitly state the terms of the contract, while express contracts are established by the parties' actions.

Real Estate Licensing Virginia Real Estate Salesperson Exam - Topic 1 Question 17 Discussion

Actual exam question for Real Estate Licensing's Virginia Real Estate Salesperson exam
Question #: 17
Topic #: 1
[All Virginia Real Estate Salesperson Questions]

Which of the following is correct about implied and express contracts?

Show Suggested Answer Hide Answer
Suggested Answer: C

Express contract: Terms are explicitly stated in words, either orally or in writing (e.g., a signed listing agreement).

Implied contract: Formed through the conduct or actions of the parties (e.g., ordering food at a restaurant implies a promise to pay).

Both types can be legally binding. The key difference is how the agreement is established.

Reference (Virginia Real Estate):

Code of Virginia Title 11 -- Contracts

Virginia Real Estate Board education requirements -- Contracts


Contribute your Thoughts:

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Susana
3 days ago
Wait, are implied contracts really binding? Sounds sketchy.
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Velda
9 days ago
Totally agree with C! Implied contracts are all about actions.
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Paulina
14 days ago
C is correct! Express contracts state terms clearly.
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Amie
19 days ago
Implied contracts can be binding, just based on behavior!
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Luis
24 days ago
I thought express contracts were just for written agreements.
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Belen
29 days ago
Wait, are implied contracts really binding? I thought they were weaker.
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Man
1 month ago
Totally agree with C! Implied contracts are all about actions.
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Heike
1 month ago
C is the correct answer! Express contracts state terms clearly.
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Julie
1 month ago
I feel like I might have mixed up the definitions; I know express contracts are written or spoken, but I can't recall how implied contracts are formed exactly.
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Tambra
2 months ago
I'm a bit confused because I thought both types of contracts could be legally binding, but maybe I misremembered.
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Silva
2 months ago
I remember practicing a question similar to this, and I think option C sounds right since it matches what we learned about how implied contracts work.
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Vincent
2 months ago
I think express contracts definitely state the terms clearly, but I'm not sure about the details of implied contracts.
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