15. When there is an agreement between parties that is evidenced by their actions and conduct rather than a written document, it is called a(n):
Answer: C
An implied contract exists when there is an agreement evidenced by actions rather than a written document.
An implied contract arises from the behavior and actions of the parties involved, indicating their agreement without the need for formal documentation.
A) competent contract
A competent contract refers to an agreement made by parties who have the legal capacity to enter into a contract. This does not specifically address the nature of the agreement being evidenced by actions rather than written documentation.
B) invalid contract
An invalid contract is one that is not legally enforceable from the moment it is created. This option does not relate to agreements evidenced by actions, as it indicates that the agreement lacks legal standing entirely.
C) implied contract
An implied contract is indeed formed through the conduct and actions of the parties involved, showing their intent to agree without a written document. This matches the definition provided in the question perfectly.
D) incomplete contract
An incomplete contract refers to an agreement that lacks certain essential terms or details needed to be fully enforceable. While it may involve some level of agreement, it does not specifically pertain to the concept of an agreement being evidenced solely by actions.
Conclusion
The term "implied contract" accurately captures the essence of an agreement formed through actions and conduct, distinguishing it from other types of contracts that either require written documentation or lack legal validity. All other options fail to describe the unique characteristic of agreements based on behavior rather than formal agreements.