What defines an implied contract?

An implied contract is defined as a contract that is inferred from the actions, conduct, or circumstances of the parties involved, rather than being explicitly stated in words or writing. This type of contract arises when there is an assumption of an agreement based on the behavior of the parties, indicating that they intend to enter into a relationship or obligation.

For example, if someone goes to a restaurant, sits down, and orders food, it can be inferred that there is a contract for the service and payment based on their actions, even if no formal agreement or written contract was signed. The expectation is that the restaurant will provide food and service, and the customer will pay for it.

The other options refer to contracts that either need written form, are based on verbal agreements, or have specific terms outlined, which do not capture the essence of an implied contract that relies on situational context and mutual intent rather than explicit language.