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.
An unwritten agreement concerning the sale, rental, or use of real estate, often unenforceable under the Statute of Frauds, with few exceptions such as short-term verbal leases.
A state law that stipulates that certain contracts must be in writing to be enforceable. This includes deeds, mortgages, and other real estate contracts, except for leases shorter than one year.
