What are the different types of contracts in contract law?

An example of an AI chatbot conversation about contract law types.

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You

MagicBuddy

In contract law, there are several types of contracts, including express, implied, unilateral, and bilateral contracts.

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You

Can you explain the difference between unilateral and bilateral contracts?

MagicBuddy

Sure! A unilateral contract involves one party making a promise in exchange for an act, while a bilateral contract involves mutual promises between two parties.

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You

What is an express contract?

MagicBuddy

An express contract is one where the terms are clearly stated, either orally or in writing, leaving no room for ambiguity.

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You

Are there any contracts that are not legally enforceable?

MagicBuddy

Yes, certain contracts, like those involving illegal activities or lacking consideration, may not be legally enforceable.

This is how a conversation with MagicBuddy looks like...

How are contracts enforced in law?What are the essential elements of a valid contract?What happens if a contract is breached?What remedies are available for breach of contract?How can a contract be terminated?

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