types of terms

Question 1

what is a term

Answer 1

is a part of a contract that the parties have agreed to they can either be expressly stated or implied into the contract.

Question 2

what are the two ways of classifying terms

Answer 2

term based is the traditional way of seperating terms into conditions or warranties. breach based recognises the severity of breaching the term is based on the severity of the breach and thus the introduction of a innominate term.

Question 3

what is a condition

Answer 3

is a central part of the contract without it the contract is made void poussard v spiers. Conditions can be defined by the parties , identified due to customary trade usage bunge v tradax or implied by statute e.g sales of goods act 1979. simply naming a term a condition does not make it a condition schuler v wickman

Question 4

what is a warranty

Answer 4

a minor term of a contract so it being breached does not void the contract and because it still means it can be performed the victim cannot repudiate the contract but they can claim for damages

Question 5

what is an innominate term

Answer 5

a innominte term in a contract is defined as not being a condition or a warranty hong kong fir shipping v kawasaki and the hansa nord so when it is breached the victim may sue for damages and repudiate the contract