Contract Terms Flashcards
1
Q
What do terms form?
A
The contents and subject matter of the contract.
2
Q
What are terms?
A
The part of the contract that the parties agree to perform for the contract to be fulfilled.
3
Q
What happens if either party fails to carry out the term?
A
They will be in breach of contract and legal recourse is possible for the breach.
4
Q
What can terms be?
A
Express, implied or imputed
5
Q
How are terms imputed?
A
By process of law
6
Q
What are conditions?
A
Lesser terms and descriptive.
