Which type of contract is exemplified when both parties have explicitly agreed to the terms in writing?

An express contract is defined as a type of contract where the terms are clearly stated and agreed upon by both parties, typically in writing. This explicit agreement allows for clarity in the obligations and rights of each party. For instance, a written contract for a service, such as a lease agreement or an employment contract, represents an express contract because all terms are expressly laid out and consented to by all involved parties.

In contrast, an implied contract arises from the conduct of the parties rather than written words, indicating an agreement based on circumstances. A unilateral contract involves one party making a promise in exchange for an act by another party, rather than mutual consent to terms. Lastly, informal contracts refer to agreements that may not meet the stringent requirements of formal contracts but are still recognized in certain contexts; these can often be verbal agreements. The express contract is distinct as it focuses on the mutual written agreement that eliminates ambiguities, solidifying the commitments made by both parties.