A property owner and a tenant enter into a written agreement whereby the owner will let the tenant live in a home in exchange for monthly rent. Which of the following types of contracts has been created?

Conditional contracts depend on the occurrence of a specific event or condition before the obligations take effect. In this case, the agreement does not hinge on any external condition but rather on the mutual promises made by both parties. Therefore, it does not qualify as a conditional contract.

Assigned contracts refer to the transfer of rights and obligations from one party to another. While the tenant may have the right to assign the lease to someone else, this does not define the nature of the original contract between the property owner and the tenant. Thus, the term "assigned" does not accurately describe the contract they have formed.

Implied contracts are formed through actions, behaviors, or circumstances rather than through explicit verbal or written agreements. Since the relationship between the property owner and tenant is established through a written agreement that clearly outlines the terms, it cannot be classified as an implied contract.