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- Common types of contracts include12:
- Express contracts: Provide specific terms for the contract.
- Conditional contracts: Fulfillment of the contract depends on the meeting of specific conditions.
- Joint contracts: Multiple parties are involved in the contract.
- Implied contracts: Often verbal, these contracts are situational rather than explicit.
- Fixed-price contracts: A contract where the price is agreed upon in advance and does not change.
- Cost-plus contracts: A contract where the buyer agrees to pay the seller for the cost of the goods or services plus a profit margin.
- Time and materials contracts: A contract where the buyer agrees to pay the seller for the time and materials used to complete the project.
Learn more:✕This summary was generated using AI based on multiple online sources. To view the original source information, use the "Learn more" links.A few common types of contracts include: Express contracts: Provide specific terms for the contract. Conditional contracts: Fulfillment of the contract depends on the meeting of specific conditions. Joint contracts: Multiple parties are involved in the contract. Implied contracts: Often verbal, these contracts are situational rather than explicit.
www.contractscounsel.com/b/contract-lawA contract is a legally binding agreement between two or more parties who agree to buy or sell goods and services from one another. There are many different types of contracts. The three most common contract types include: Fixed-price contracts Cost-plus contracts Time and materials contracts
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