A contract that has terms that are set by one party without negotiation with the other party is known as a:

A contract characterized by terms that are established by one party and not subjected to negotiation with the other party is referred to as a standard form contract. This type of agreement is commonly used across various industries and is often presented on a take-it-or-leave-it basis. It saves time and resources by providing a set template that most parties can use, as it contains standard clauses and terms that are applicable in typical situations.

Standard form contracts are prevalent in real estate, insurance policies, and other contexts where the terms are well-established and generally accepted. The clear disadvantage for the party that doesn’t create the contract is that they may not have any ability to negotiate terms that might be more favorable to them, leading to potential imbalances in rights and responsibilities.

In contrast, a negotiated contract involves active communication and mutual agreement on terms, implying that both parties have a role in shaping the agreement. Implied contracts arise from actions or circumstances rather than explicit words, and verbal contracts involve agreements made through spoken communication rather than written documentation. Each of these other types highlights different aspects of how contracts can be formed and understood, distinguishing them from the defined nature of a standard form contract.