implied obligation
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implied covenant of good faith and fair dealing — An implied obligation that assumes that the parties to a contract will act in good faith and deal fairly with one another without breaking their word, using shifty means to avoid obligations, or denying what the other party obviously understood.… … Law dictionary
obligation — A generic word, derived from the Latin substantive obligatio, having many, wide, and varied meanings, according to the context in which it is used. That which a person is bound to do or forbear; any duty imposed by law, promise, contract,… … Black's law dictionary
obligation — ob·li·ga·tion /ˌä blə gā shən/ n 1: a promise, acknowledgment, or agreement (as a contract) that binds one to a specific performance (as payment); also: the binding power of such an agreement or indication held that the amendment did not… … Law dictionary
implied — im‧plied [ɪmˈplaɪd] adjective not stated openly, but understood to exist or to be true: • Disney argued that it had an oral contract and an implied license to use the Muppet characters. * * * implied UK US /ɪmˈplaɪd/ adjective [usually before… … Financial and business terms
Implied authority — of Contract is a legal term. In contract law, it is the implied ability of an individual to make a legally binding contract on behalf of an organization, by way of uniform or interaction with the public on behalf of that organization. When a… … Wikipedia
Implied warranty — Contract law Part o … Wikipedia
implied — This word is used in law in contrast to express ; i.e., where the intention in regard to the subjectmatter is not manifested by explicit and direct words, but is gathered by implication or necessary deduction from the circumstances, the general… … Black's law dictionary
implied — This word is used in law in contrast to express ; i.e., where the intention in regard to the subjectmatter is not manifested by explicit and direct words, but is gathered by implication or necessary deduction from the circumstances, the general… … Black's law dictionary
Implied — Imply Im*ply , v. t. [imp. & p. p. {Implied}; p. pr. & vb. n. {Implying}.] [From the same source as employ. See {Employ}, {Ply}, and cf. {Implicate}, {Apply}.] 1. To infold or involve; to wrap up. [Obs.] His head in curls implied. Chapman. [1913… … The Collaborative International Dictionary of English
implied warranty — A statement, description, or undertaking by the insured under a marine policy which binds the insured as though expressed in the contract. Procacci v United States Fidelity Ins. Co. 118 NJL 423, 193 A 180. In sale of personal property: a warranty … Ballentine's law dictionary
