Bo signs a lease with Capri Properties to lease a studio apartment for the next year for $850 per month. Daisy signs on Capri's behalf. Bo and Capri have
A)no contract.
B)an express contract.
C)an implied contract.
D)a simple contract.

Question

Quizplus · Accepted Answer

An express contract is formed when the parties have explicitly stated the terms of their agreement, either orally or in writing. In this scenario, Bo and Capri Properties have an express contract because the terms of the lease (the studio apartment for $850 per month for the next year) are explicitly stated, and Daisy signs on Capri's behalf, indicating agreement to these terms.

Bo Signs a Lease with Capri Properties to Lease a Studio