Determining type of contract, Business Law and Ethics

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Determining type of contract

Assignment:

Nelly wants to buy a new boat. He doesn't have enough cash to pay for, it so he decides to take out a loan. The loan states the offered price and includes other important things like the payments, the term of the loan and Nelly’s signature. This is what type of contract?

a. Implied contract
b. Expressed contract
c. Quasi-contract
d. Bilateral contract

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