Based on the typos and errors, sometimes I wonder if the contract writers read them. For example, BoA's current credit card agreement claims "Cash rewards earned are truncated at the 100th decimal place." Umm, I don't think that's what they intended.
Virtually everything we spend money on, whether goods or services, and many things that are free, involves a contract of some kind... either written or implied.
The simple question is: Do you read the contract?
Based on the typos and errors, sometimes I wonder if the contract writers read them. For example, BoA's current credit card agreement claims "Cash rewards earned are truncated at the 100th decimal place." Umm, I don't think that's what they intended.
Umm, I think their use of the term "100th decimal place" refers to .01, where
.1 = "tenth place"
.01 = "hundredth decimal place",
.001 = "thousandth decimal place", etc.
not "100 numbers to the right of the period".
Based on the typos and errors, sometimes I wonder if the contract writers read them. For example, BoA's current credit card agreement claims "Cash rewards earned are truncated at the 100th decimal place." Umm, I don't think that's what they intended.
Umm, I think their use of the term "100th decimal place" refers to .01, where
.1 = "tenth place"
.01 = "hundredth decimal place",
.001 = "thousandth decimal place", etc.
not "100 numbers to the right of the period".
How does one read an implied contract?
An implied-in-fact contract (a/k/a "implied contract") is a contract agreed by non-verbal conduct, rather than by explicit words. As defined by the United States Supreme Court,[1] it is "an agreement 'implied in fact'" as "founded upon a meeting of minds, which, although not embodied in an express contract, is inferred, as a fact, from conduct of the parties showing, in the light of the surrounding circumstances, their tacit understanding."
Although the parties may not have exchanged words of agreement, their actions may indicate that an agreement existed anyway
Got it. Still wondering how you read it. As for understanding, some of this stuff is easier to understand if you don't read it than if you do.Perhaps that should have read read and understood, but an "Implied Contract" is a legal term that does exist, and may cover many situations that could cause problems for those who do not understand the meaning.
Got it. Still wondering how you read it. As for understanding, some of this stuff is easier to understand if you don't read it than if you do.
Also, some contracts can be verbal agreements.