A contractual term is "Any provision forming part of a contract". Each term gives rise to a contractualobligation, breach of which can give rise to litigation. Not all terms are stated expressly and some terms carry less legal gravity as they are peripheral to the objectives of the contract.
Classification of term
Condition or Warranty
Conditions are terms that go to the very root of a contract. Breach of these terms gives the right to repudiate the contract, allowing the other party to discharge the contract. A warranty is less imperative than a condition, so the contract will survive a breach. Breach of either a condition or a warranty will give rise to damages.
It is an objective matter of fact whether a term goes to the root of a contract. By way of illustration, an actress's obligation to perform the opening night of a theatrical production is a condition, whereas a singer's obligation to perform during the first three days of rehearsal is a warranty.
Statute may also declare a term or nature of term to be a condition or warranty. For example, the Sale of Goods Act 1979 s15A provides that terms as to title, description, quality, and sample (as described in the Act) are conditions save in certain defined circumstances.
Borrowers should.Borrow only what's necessary — Resist the temptation to borrow more than you need, as this can lead to unnecessary debt accumulation.Read all the terms and conditions — Take the time...
Are you in search of a convenient loan against property? Bajaj Finance presents lower interest rates, swift loan disbursal, and extended repayment terms ... This involves moving the existing loan to a new lender with better conditions.
Amlak has commenced negotiations with the remaining financiers in order to exit from the Common Terms Agreement for restructuring which are at an advanced level to agree on the conditions.
... territory illegal because “it was not democratically approved and imposes unfavorable conditions on Niger, particularly in terms of lack of transparency on military activities.”.
... according to Fisker's reservation terms online ... Fisker said in the filing it planned to try to negotiate a waiver to that closing condition or a financing deal with the investor under different terms.
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... relies on ensuring all facets of a deal are examined, contracts are scrutinised and absorbed with the use of specialist resources if necessary, and those terms and conditions are closely examined.
... other Future brandsReceive email from us on behalf of our trusted partners or sponsorsBy submitting your information you agree to the Terms & Conditions and Privacy Policy and are aged 16 or over.
... revenues will decrease in the medium term,” further noting that the government fails to understand that economic conditions are not static and differ significantly from a few years ago.
In a long-term study of 1,280 patients with REM sleep behavior disorder who didn’t have parkinsonism – an umbrella term that refers to brain conditions, including Parkinson’s ...
News in 90. DeSantis primary, homeless law & Best Buy closures ...TaraGillette, suspended for two years with conditions to be met prior to petitioning for reinstatement ... Gillette successfully completed all terms and conditions of her criminal sentences.
The charges stem from a crash reported at 2 a.m ... Glode said Garcia was charged after a “thorough investigation” by Willimantic police ... Comments Policy ... We reserve the right to permanently block any user who violates these terms and conditions ... Close ... 200.