What type of contract is formed when one party is obligated for the benefit of another without receiving any advantage in return?

A gratuitous contract is formed when one party agrees to provide a benefit to another party without expecting any form of compensation or advantage in return. This type of contract is characterized by the generosity of one party, leading to an obligation to fulfill the agreement purely for the other party's benefit. The essence of a gratuitous contract lies in the altruistic motive behind the agreement, distinguishing it from other types of contracts where both parties are expected to provide consideration or benefit to each other.

In contrast, a standard contract typically involves a mutual exchange of benefits or services where both parties have obligations towards each other. An implied contract is established through the actions or circumstances rather than explicit agreements, often ensuring that parties are bound by certain unwritten obligations. A mutual contract also implies that there is a reciprocal agreement with obligations on both sides. Thus, the key characteristic that defines a gratuitous contract is the absence of an exchange of value between the parties, which is why it is the correct choice in this context.