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Express Agreement

DEFINITION

Agreement that is established through the expressed actions of the parties that acknowledge the agreement.

EXPLANATION

Express agreement is documented in writing through a written contract. Express agreements indicate the terms of a contract so that all matters relating to the agreement are clearly expressed. The agreement will state the name of the party’s, the issues at hand, beginning and end dates, and others. In other words, an express agreement states everything relating to the matter at hand.

The agreement will state the responsibilities of each party, how parties can meet their responsibilities, and may even mention arbitration clauses that state what will happen in the event of a dispute. A well drafted document will make it easy for everyone to follow so that there are no discrepancies.

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