Terms Flashcards
1
Q
When are terms relevant
A
If representation is broken
2
Q
What are the three types of terms
A
- Condition
- Innominate
- Warranty
3
Q
What is a condition
A
It is a term that is:
1. Fundamental to the contract
2. Without that term the contract would be pointless
4
Q
What happens when a condition is breached
A
The victim can:
1. Repudiate the contract
2. Seek damages
5
Q
What is an innominate term
A
In between a condition and a warranty
6
Q
What is a warranty
A
A minor term of the contract, can only sue for compensation.
