Contract terms Flashcards
A term is a desirable element?
False, terms are essential to a contract
What is a term?
A provision forming part of a contract
What does a mere representation consist of?
A statement of fact that does not amount to a term of the contract
Express terms are specifically agreed between each party?
True
Implied terms are implied through common or statute law?
True
What is the express terms of buying a coffee priced at £2?
Pay £2
What is the implied terms of buying a coffee priced at £2?
Getting a coffee that is hot
The three terms in a contact are?
Condition
Warranty
Innominate term
What is a condition?
The main term in a contract that failure to perform the obligation would destroy the main purpose
If a condition is broken the person suffering the failure is entitled to?
Repudiation of the contract
What does rescission of a contract do?
Keeps the contract open, awards damages
A condition is the root of a contact shown in what case?
Poussard v Spier and Pond
What is a warranty?
A minor term in a contract, breach of which awards damages but keeps the contract open
Warranty case example?
Bettini v Gye
What is an innominate term?
A term in a contract that is not defined as a condition or a warranty and depends on the severity of the breach
