2022-11-30 11:23:50
Terms of contract Terms of contract set out duties of each party under that agreement.
The terms will be of two kinds:
Express terms: these are laid down by the parties themselves;
Implied terms: these are read into the contract by the court on the basis of the nature of the agreement and the parties’ apparent intentions, or on the basis of law on certain types of contract.
Generally, the terms of a contract may be either:
Wholly oral
Wholly written
Partly oral and partly written.
Terms are to be distinguished from statements made prior to the contract being made. Two main types of statement:
A representation about a state of affairs, or
A promise that something will or will not occur in the future.
Either type of statement can become a term of the contract, whether or not they are oral or written, or partly oral and partly written.
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