Which best describes an "implied contract"?

An "implied contract" refers to an agreement that is not explicitly stated but is inferred from the behavior, actions, and circumstances of the parties involved. This means that, even though there may not be a formal written contract or a clear verbal agreement, the conduct of the parties suggests that they have entered into a binding agreement. For example, if a person walks into a restaurant, orders food, and consumes it, an implied contract is established between the customer and the restaurant, where the customer agrees to pay for the meal.

This type of contract is recognized by law just as much as written or explicitly stated agreements, as it demonstrates the mutual intent of both parties to enter into a transactional relationship based on their actions.

Other choices involve a direct reference to explicit agreements or written documents, which do not embody the essence of an implied contract, as that concept is characterized specifically by the absence of formal terms and the reliance on implicit understanding.