What is the term for a condition that is not stated in the contract but is created by the nature of the transaction between parties?

A) Express condition
B) Implied-in-fact condition
C) Corporate condition
D) Bilateral condition

Implied-in-fact Condition

A legal term for a provision that, although not expressly stated, is presumed to be a part of an agreement based on the actions or circumstances of the parties.

Transaction

The act of conducting business or completing an exchange of goods, services, or funds between two or more parties.

Express Condition

An express condition is a specific, clearly stated requirement within a contract that must be fulfilled for the obligations of the contract to be performed.