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What is an express contract?

  1. A contract without any conditions

  2. Verbal or written agreement established

  3. A legally binding document only

  4. A contract requiring a witness

The correct answer is: Verbal or written agreement established

An express contract is defined as a verbal or written agreement where the terms are clearly stated and agreed upon by the parties involved. This type of contract leaves no ambiguity regarding what each party is obligated to do. The express nature means that both parties have expressly articulated their intentions, either through spoken conversation or through written documentation. This clarity is crucial in contract law, as it helps to enforce the agreement and protect the rights of both parties. While it may be tempting to consider other options, they do not capture the essence of what an express contract is. For instance, a contract without any conditions does not reflect the specific, mutual obligations inherent in an express contract. Similarly, while a legally binding document is important in many legal contexts, it does not specifically indicate that both parties communicated the terms explicitly, which is the cornerstone of an express contract. Lastly, while some contracts may require a witness, this is not a defining feature of express contracts as a whole; express contracts can be valid without the requirement of a witness as long as they contain all necessary elements of a contract.