What term describes a stated agreement between two people to specific terms?

Study for the Arizona Salesperson Test with flashcards and multiple-choice questions. Each question is paired with helpful hints and detailed explanations. Get ready to ace your exam!

The term that describes a stated agreement between two people to specific terms is an expressed contract. An expressed contract is explicitly stated in words, either orally or in writing, where the intentions of the parties are clearly articulated. This contrasts with implied contracts, which are inferred from actions or circumstances rather than directly stated.

In real estate and other transactions, an expressed contract ensures that both parties are aware of and agree to the specific terms and conditions, providing clarity and legal enforceability to the agreement. By explicitly laying out the responsibilities, obligations, and rights of each party, an expressed contract minimizes misunderstandings and potential disputes.

Implied contracts do not fit because they rely on the actions of the parties rather than articulated agreements. A bilateral contract, while also a valid term, refers specifically to agreements where both parties make mutual promises, but it does not specifically denote the mode of expression (i.e., whether the terms are stated). An unenforceable contract is a concept describing agreements that cannot be enforced by law due to certain legal deficiencies, which does not apply in this context of a stated agreement between parties.

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