Terms - Types of Terms Flashcards
What are terms?
obligations of both parties
What are conditions?
Important terms in a contract
What happens if a condition is breached?
The contract can be repudiated if conditions are not met
If a condition is breached the contract is repudiated as seen in the case of…
Poussard
What are warranties?
Minor terms. If breached the contract does not come to an end but parties can claim for damages.
What is the case under warranty?
Bettini v Gye
when are innominate terms used?
when it is unclear whether the term is a condition or warranty.
Who decides if the term is a condition or warranty?
judges
If the breach denies you a _____________ ________ it is a condition
Substancial benefit
if the breach does not deny you a substancial benefit it is a _________
warranty
The case under substancial benefit is ….
Hongkong fir shipping co. ltd v kowaski kisen kaisha
Judges also take into consideration the intention of the parties as seen in ________ v ________
Arnold v britton
Taking the intention of the parties is similar to what test?
Objective, reasonable man test
