Jan 18 , 2016

Tampa School of Real Estate

Express Contract

Definition:   An agreement where all terms and conditions have been spelled out and a meeting of the minds is reached in words of agreement and mutual understanding.  May be written, oral or a combination of the two.

Pronunciation:  \ik-ˈspres\  \ˈkän-ˌtrakt\

Used in a Sentence:   The primary requirements in an express contract are mutual understanding and agreement.