types of contracts agreements
An express contract is the most common contract type. In this type of contract, all elements are specifically stated. This can be written or done orally. Either way, offer, acceptance and consideration must bind the parties together legally.
In this type of contract, the elements are not specifically written or expressed. In fact, this type of contract is used as a remedy in a situation when one party to the quasi-agreement received unjust enrichment resulting from not paying for a product or service rendered.
Executory and Executed Contracts. An executory contract has an act or obligation stipulated in a contract that has yet to be performed by one or more parties to the contract. For example, an equipment lease and a license to intellectual property are examples of executory contracts.
Subcontract / Subaward Agreement. A document written under the authority of, and consistent with the terms and conditions of a prime award (grant, contract, or cooperative agreement), that transfers a portion of the research or substantive effort of the statement of work to another institution or organization. Teaming Agreement.