Located on the Illinois River, Peru lies 3 miles west of the confluence of two major interstate highways: Interstate 39 and Interstate 80. The city is also the Western terminus of the historic Illinois and Michigan Canal.
express contract. Contract whose terms are clearly spelled out, usually in writing. Opposite of implied contract. Use 'express contract' in a Sentence. You need to make sure that you have a good express contract any time that you are making a quick deal. With the temperamental actor we thought it best to have a concise and express contract.
Informal Contracts. An informal contract, sometimes called a parol contract, is one that does not require a record and does not have to be signed, like ordering pork-fried rice at your favorite Chinese delivery restaurant.he distinct difference between a formal contract and an informal contract is its enforceability in a court. An enforceable contract is one that contains certain elements, like offer, acceptance, and consideration, and is in written form.