In real estate and legal terms, 'implied' refers to obligations, rights, or contracts that are not explicitly declared in writing or verbally but are assumed to exist under the circumstances and are enforceable by law. It contrasts with 'expressed,' which refers to explicitly stated agreements or declarations.
An implied contract is an agreement created by actions of the parties involved, but it is not necessarily spoken or written. Such contracts are legally binding, provided they demonstrate mutual intent and agreement.
