An exchange between parties of oral or written promises that are enforceable in a court of law is a(n) .

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An express contract is created when parties make oral or written promises that are enforceable in a court of law. It is called "express" because the terms of the agreement are explicitly stated, rather than implied by the conduct of the parties. Implied contracts arise from the behavior of the parties or the circumstances of a particular situation. A quasi-contract is not a true contract, but rather an equitable remedy applied by the courts to prevent one party from being unjustly enriched at the expense of another party. There is no such thing as an exchange contract.

An Exchange Between Parties of Oral or Written Promises That