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  2. Legally binding agreement

    An express contract is a legally binding agreement, the terms of which are all clearly stated either orally or in writing. For an express contract to come together, there must be an offer made by one of the parties, and acceptance of that offer by the other party.
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    A contract to purchase a property: If a buyer and seller agree to the terms of a property sale, such as the price, contingencies, and closing date, and they sign a written agreement that states all these terms, it is considered an express …

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