what is the difference between a tacit contract & implied contract ??
Devadas K S
(One life one Dream)
(3525 Points)
Replied 18 May 2011
In implied contract intention of party to make contract is not necessary. Law implies it as a contract.
Eg : goods deliverd by mistake by A to C. actually it was required to be delivered to B. In this case, although A and C are not intended to contract. Law implies C to return back the goods received by him by mistake.
But in Tacit contract, contract is formed by the conduct of parties. ie. conduct or action by parties is essential to make a contract.
Eg: Taking cash from ATM.
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