ment arises from a deliberate offer by one party, and a simple acceptance thereof by another party, the agreement is termed a promise, and its effect is to impose  Implied contracts are as binding as express contracts. An implied contract depends on substance for its existence; therefore, for an implied contract to arise,   Terms implied by Custom. This is the concept of contractual terms that are known or generally understood in the area in which the contract arises, i.e. the