CONTRACT TERMS; GENERAL Flashcards
1
Q
EXPRESSED TERMS
A
Terms which have been specifically agreed on between the parties.
2
Q
IMPLIED TERMS
A
Not clear and definite terms
3
Q
EXAMPLES OF IMPLIED TERMS
A
Custom and Business efficacy
4
Q
CONDITION
A
A term so important that a failure to perform it would terminate the contract.
Innocent party has the right to end the contract by treating it as repudiation.
[POUSSARD V SPIERS & POND]
5
Q
INNOMINATE TERMS
A
A term which can either be a condition or warranty, depending on severity.
[HONG KONG FIR V KAWASAKI]
6
Q
WARRANTY
A
A minor term
Only damages can be claimed
Contract doesn’t end
[BETTINI V GYE]
