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- Here are 5 types of contracts123:
- Bilateral Contract: Both parties make promises to each other.
- Unilateral Contract: One party makes a promise in exchange for a specific action from the other party.
- Implied Contract: Formed based on actions or conduct, rather than explicit agreement.
- Fixed-price Contract: Payment doesn’t depend on resources used or time expended.
- Cost-reimbursement Contract: Payment is based on actual costs incurred.
Learn more:✕This summary was generated using AI based on multiple online sources. To view the original source information, use the "Learn more" links.If you own a business, there are at least 5 types of contracts you need to know to avoid problems: bill of sale; employment agreement; licensing contract; nondisclosure agreement; and promissory note.www.pipefy.com/blog/common-types-business-con…Types of contracts on the basis of formation of the contract
- Verbal contracts Verbal or oral contracts are those which are formed by oral communication. ...
blog.ipleaders.in/all-about-different-types-of-contra…Types of contracts
- Fixed-price contract Fixed-price contracts, also known as lump sum contracts, are used in situations where the payment doesn’t depend on the resources used or time expended. ...
- Cost-reimbursement contract ...
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