Business Law Assignment Example | Topics and Well Written Essays - 250 words - 6

Business Law - Assignment Example As in our case, McDougal did not say even a single word and just waved his hand at Krunch, which showed his intention to pay later. Trust and expectation play a vital role in implied contracts. Implied contracts are made on the basis of reason, understanding, and tradition. Silence can be treated as an act of acceptance but in very rare cases. In case of trustworthy relationships, acceptance does not need to be communicated to the other person in order to be effective. For example in case of implied contracts, silence is used as a gesture for acceptance that is based on the factors of trust and confidence in the other party. However, in all other forms of contracts, there must be an agreement between the parties regarding consideration of silence as acceptance because without any such agreement, silence can never be considered as acceptance if the other party do not intend to accept any specific