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Encyclopedia > Contractual terms
Contract Law
Part of the common law series
Contract
Contract formation
Offer and acceptance  · Mailbox rule
Mirror image rule  · Invitation to treat
Firm offer  · Consideration
Defenses against formation
Lack of capacity to contract
Duress  · Undue influence
Illusory promise  · Statute of frauds
Non est factum
Contract interpretation
Parol evidence rule
Contract of adhesion
Integration clause
Contra proferentem
Excuses for non-performance
Mistake  · Misrepresentation
Frustration of purpose  · Impossibility
Unclean hands  · Unconscionability
Illegality  · Accord and satisfaction
Rights of third parties
Privity of contract
Assignment  · Delegation
Novation  · Third party beneficiary
Breach of contract
Anticipatory repudiation  · Cover
Exclusion clause  · Efficient breach
Fundamental breach
Remedies
Specific performance
Liquidated damages
Penal damages  · Rescission
Quasi-contractual obligations
Promissory estoppel
Quantum meruit
Subsets: Conflict of law
Commercial law
Other areas of the common law
Tort law  · Property law
Wills and trusts
Criminal law  · Evidence

A contractual term is "[a]ny provision forming part of a contract"[1] Each term gives rise to a contractual obligation, breach of which will 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. Image File history File links Scale_of_justice. ... A contract is a legally binding exchange of promises or agreement between parties that the law will enforce. ... This article concerns the common-law legal system, as contrasted with the civil law legal system; for other meanings of the term, within the field of law, see common law (disambiguation). ... A contract is a legally binding exchange of promises or agreement between parties that the law will enforce. ... Offer and acceptance analysis is a traditional approach in contract law used to determine whether an agreement exists between two parties. ... The mailbox rule or the postal acceptance rule is a term of common law contracts which determines the timing of acceptance of an offer when mail is contemplated as the medium of acceptance. ... In the law of contracts, the mirror image rule states that an offer must be accepted exactly without modifications. ... In contract law, an invitation to treat (invitation to bargain in the US) is an action by one party which may appear to be a contractual offer but which is actually inviting others to make an offer of their own. ... A firm offer is an offer defined by UCC 2-205 of the Uniform Commercial Code of the United States. ... Consideration is something that is done or promised in return for a contractual promise. ... The capacity of both natural and artificial persons determines whether they may make binding amendments to their rights, duties and obligations, such as getting married or merging, entering into contracts, making gifts, or writing a valid will. ... Duress in the context of contract law is a common law defence, and if you are successful in proving that the contract is vitiated by duress, you can rescind the contract, since it is then voidable. ... Undue influence (as a term in jurisprudence) is an equitable doctrine that involves one person taking advantage of a position of power over another person. ... In contract law, an illusory promise is one that courts will not enforce. ... The statute of frauds refers to a requirement in many common law jurisdictions that certain kinds of contracts, typically contractual obligations, be done in writing. ... This article or section does not cite its references or sources. ... This article or section does not cite its references or sources. ... A standard form contract (sometimes referred to as an adhesion contract or boilerplate contract) is a contract between two parties that does not allow for negotiation, i. ... An integration clause, in the contract law, is a term in the language of the contract that declares it to be the complete and final agreement between the parties. ... Contra preferendum or contra preferentem is the rule in contract law that is applied when interpreting a clause, especially an exclusion clause, in an action that says that, where ambiguity as to a terms meaning exists, it should be read against the party who wrote it. ... In contract law a mistake is incorrect understanding by one or more parties to a contract and may be used as grounds to invalidate the agreement. ... In contract law, a misrepresentation is a false statement of fact made by one party to another party and has the effect of inducing that party into the contract. ... Frustration of purpose is a term used in the law of contracts to describe a defense to an action for non-performance based on the occurance of an unforseen event which makes performance impossible or commercially impracticable. ... Impossible redirects here. ... This article or section does not cite its references or sources. ... This article or section does not cite its references or sources. ... An illegal agreement, under the common law of contract, is one that the courts will not enforce because the purpose of the agreement is to achieve an illegal end. ... Accord and satisfaction is the purchase of the release from a debt obligation. ... The doctrine of privity in contract law provides that a contract cannot confer rights or impose obligations arising under it on any person or agent except the parties to it. ... An assignment is a term used with similar meanings in the law of contracts and in the law of real estate. ... Delegation is a term used in the law of contracts to describe the act of giving another person the responsibility of carrying out the performance agreed to in a contract. ... Novation is a term used in contract law and business law to describe the act of either replacing an obligation to perform with a new obligation, or replacing a party to an agreement with a new party. ... A third party beneficiary, in the law of contracts, is a person who may have the right to sue on a contract, despite not having originally been a party to the contract. ... Breach of contract is a legal concept in which a binding agreement or bargained-for exchange is not honored by one or more of the parties to the contract by non-performance or interference with the other partys performance. ... Anticipatory repudiation (or anticipatory breach) is a term in the law of contracts that describes a declaration by one party (the promissing party) to a contract that they do not intend to live up to their obligations under the contract. ... Cover is a term used in the law of contracts to describe a remedy available to a merchant buyer who has received an anticipatory repudiation of a contract for the receipt of goods. ... An exclusion clause is a term in a contract that seeks to restrict the rights of the parties to the contract. ... Efficient breach refers to a breach of contract that the breaching party considers desirable even when the legal and economic ramifications of such a breach are considered. ... Fundamental breach, sometimes known as a repudiatory breach, is a breach so fundamental that it permits the aggrieved party to terminate performance of the contract, in addition to entitling that party to sue for damages. ... Definition of Specific performance In the law of remedies, a specific performance is a demand of a party to perform a specific act. ... Liquidated damages is a term used in the law of contracts to describe a contractual term which establishes damages to be paid to one party if the other party should breach the contract. ... Penal damages are best seen as quantitatively excessive liquidated damages and are invalid under the common law. ... In contract law, rescission (to rescind or set aside a contract) refers to the cancellation of the contract between the parties. ... Estoppel is a concept that prevents a party from acting in a certain way because it is not equitable to do so. ... Quantum meruit is a Latin phrase meaning as much as he has deserved. In the context of contract law, it means something along the lines of reasonable value of services. Situations The concept of quantum meruit applies to the following situations: I. When a person employs (impliedly or expressly) another... International private law, private international law or conflict of laws is the branch of private law which regulates lawsuits involving foreign laws or jurisdictions. ... Commercial law or business law is the body of law which governs business and commerce and is often considered to be a branch of civil law and deals both with issues of private law and public law. ... In the common law, a tort is a civil wrong for which the law provides a remedy. ... This article or section does not cite any references or sources. ... This article needs additional references or sources for verification. ... The law of trusts and estates is generally considered the body of law which governs the management of personal affairs and the disposition of property of an individual in anticipation and the event of such persons incapacity or death, also known as the law of successions in civil law. ... Criminal law (also known as penal law) is the body of statutory and common law that deals with crime and the legal punishment of criminal offenses. ... The law of evidence governs the use of testimony (e. ... A contract is a legally binding exchange of promises or agreement between parties that the law will enforce. ... Breach of contract is a legal concept in which a binding agreement or bargained-for exchange is not honored by one or more of the parties to the contract by non-performance or interference with the other partys performance. ... It has been suggested that civil trial be merged into this article or section. ... A contract is a legally binding exchange of promises or agreement between parties that the law will enforce. ...

Contents

Classification of Term

  • Condition or Warranty[2]. Conditions are terms which go to the very root of a contract. Breach of these terms repudiate the contract,allowing the other party to discharge the contract. A warranty is not so imperative so the contract will subsist after a breach. Breach of either 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' obligation to perform the opening night of a theatrical production is a condition,[3] whereas a singers obligation to perform during the first three days of rehearsal is a warranty[4]. A contract is a legally binding exchange of promises or agreement between parties that the law will enforce. ... Breach of contract is a legal concept in which a binding agreement or bargained-for exchange is not honored by one or more of the parties to the contract by non-performance or interference with the other partys performance. ... A contract is a legally binding exchange of promises or agreement between parties that the law will enforce. ... A contract is a legally binding exchange of promises or agreement between parties that the law will enforce. ... A contract is a legally binding exchange of promises or agreement between parties that the law will enforce. ... Breach of contract is a legal concept in which a binding agreement or bargained-for exchange is not honored by one or more of the parties to the contract by non-performance or interference with the other partys performance. ... Breach of contract is a legal concept in which a binding agreement or bargained-for exchange is not honored by one or more of the parties to the contract by non-performance or interference with the other partys performance. ... In law, damages refers to the money paid or awarded to a claimant (as it is known in the UK) or plaintiff (in the US) following their successful claim in a civil action. ... A contract is a legally binding exchange of promises or agreement between parties that the law will enforce. ... Serge Sudeikins poster for the Bat Theatre (1922). ...


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[5] provides that terms as to title, description, quality and sample (as described in the Act) are conditions save in certain defined circumstances. The Statute of Grand Duchy of Lithuania A statute is a formal, written law of a country or state, written and enacted by its legislative authority, perhaps to then be ratified by the highest executive in the government, and finally published. ... An Act of Parliament or Act is law enacted by the parliament (see legislation). ...

  • Innominate term. Lord Diplock, in Hong Kong Fir Shipping Co. Ltd. v Kawasaki Kisen Kaisha Ltd.[6], created the concept of an innominate term, breach of which may or not go to the root of the contract depending upon the nature of the breach. breach of these terms, as with all terms, will give rise to damages. Whether or not it repudiates the contract depends upon whether legal benefit of the contract has been removed from the innocent party. Megaw LJ, in 1970, preferred the use of the classic categorising into condition or warranty due to legal certainty.[7] This was interpreted by the House of Lords as merely restricting its application in Reardon Smith Line Ltd. v Hansen-Tangen[8].

Kenneth Diplock (1907-1985) was an English judge and Law Lord. ... Breach of contract is a legal concept in which a binding agreement or bargained-for exchange is not honored by one or more of the parties to the contract by non-performance or interference with the other partys performance. ... A contract is a legally binding exchange of promises or agreement between parties that the law will enforce. ... Breach of contract is a legal concept in which a binding agreement or bargained-for exchange is not honored by one or more of the parties to the contract by non-performance or interference with the other partys performance. ... A contract is a legally binding exchange of promises or agreement between parties that the law will enforce. ... A contract is a legally binding exchange of promises or agreement between parties that the law will enforce. ...

Status as a term

Status as a term is important as a party can only take legal action for the non fulfillment of a term as opposed to representations or mere puffs. Legally speaking only statements that amount to a term create contractual obligations. Statements can be split into the following types: It has been suggested that civil trial be merged into this article or section. ...

  • Puff (sales talk): If no reasonable person hearing this statement would take it seriously, it is a puff, and no action in contract is available if the statement proves to be wrong. It may also be referred to as "puffery". This is common in television commercials.
  • Representation: A representation is a statement of fact which does not amount to a term of the contract but it is one that the maker of the statement does not guarantee its truth. This gives rise to no contractual obligation but may amount to a tort, for example misrepresentation.
  • Term: A term is similar to a representation, but the truth of the statement is guaranteed by the person who made the statement therefore giving rise to a contractual obligation. For the purposes of Breach of Contract a term may further be categories as a condition, warranty or innominate term.

There are various factor that a court may take into account in determining the nature of a statement. These include: A contract is a legally binding exchange of promises or agreement between parties that the law will enforce. ... A contract is a legally binding exchange of promises or agreement between parties that the law will enforce. ... Tort is a legal term that means a civil wrong, as opposed to a criminal wrong, that is recognized by law as grounds for a lawsuit. ... In contract law, a misrepresentation is a false statement of fact made by one party to another party and has the effect of inducing that party into the contract. ... Breach of contract is a legal concept in which a binding agreement or bargained-for exchange is not honored by one or more of the parties to the contract by non-performance or interference with the other partys performance. ... A trial at the Old Bailey in London as drawn by Thomas Rowlandson and Augustus Pugin for Ackermanns Microcosm of London (1808-11). ...

  • Timing: If the contract was concluded soon after the statement was made, this is a strong indication that the statement induced the person to enter into the contract. Lapse of a week within the negotiations of a car sale was held to amount only to a representation in Routledge v McKay[9]
  • Content of statement: It is necessary to consider what was said in the given context, which has nothing to do with the importance of a statement.
  • Knowledge and expertise: In Oscar Chess Ltd v. Williams,[10] a person selling a car to a second-hand car dealer stated that it was a 1948 Morris, when in fact it was a 1939 model car. It was held that the statement did not become a term because a reasonable person in the position of the car dealer would not have thought that an inexperienced person would have guaranteed the truth of the statement.
  • Reduction into Writing: Where the contract is consolidated into writing, previous spoken terms, omitted from the consolidation, will probably be relegated to representations.[11] The old case of Birch v Paramount Estates Ltd.[12] provided that a very important spoken term may persist even if omitted from the written consolidation; this case concerned the quality of a residential house.

The parol evidence rule limits what things can be taken into account when trying to interpret a contract. This rule has practically ceased operation under UK law A contract is a legally binding exchange of promises or agreement between parties that the law will enforce. ... A contract is a legally binding exchange of promises or agreement between parties that the law will enforce. ... This article or section does not cite its references or sources. ... This article or section does not cite its references or sources. ... A used item is one that is not new or a resource that has been partially or completely depleted. ... This article or section does not cite its references or sources. ... 1948 (MCMXLVIII) was a leap year starting on Thursday (the link is to a full 1948 calendar). ... Morris may refer to: // In North America: Morris, Alabama Morris, Connecticut Morris, Illinois Morris, Manitoba Morris, Minnesota Morris County, New Jersey Morris Plains, New Jersey Morris (town), New York Morris (village), New York Mount Morris, New York Morris, Oklahoma Morris Township, Pennsylvania Morris, Wisconsin See also: Morriston Morristown Morrisville For... Year 1939 (MCMXXXIX) was a common year starting on Sunday (link will display the full calendar) of the Gregorian calendar. ... A contract is a legally binding exchange of promises or agreement between parties that the law will enforce. ... This article or section does not cite its references or sources. ... A contract is a legally binding exchange of promises or agreement between parties that the law will enforce. ... Lady Justice or Justitia is a personification of the moral force that underlies the legal system (particularly in Western art). ...


Implied Terms

A Term may either be expressed or implied. An Express term is stated by the parties during negotiation or written in a contractual document. Implied terms are not stated but nevertheless form a provision of the contract. A contract is a legally binding exchange of promises or agreement between parties that the law will enforce. ...


Terms implied in fact

The Privy Council established a five stage test in BP Refinery Western Port v. Shire of Hastings[13]: A privy council is a body that advises the head of state of a nation, especially in a monarchy. ...

  1. Reasonableness and equitableness: The implied term must be reasonable and equitable.
  2. Business efficacy: The implied term must be necessary for the business efficacy of the contract. For instance, if the term simply causes the contract to operate better, that does not fit this criterion. This is the principle laid out in The Moorcock[14]. The presiding judge created a quaint concept of an officious bystander; if the officious bystander were to propose a term and both the parties would be likely to reply "oh, of course", the term is implied.
  3. Obviousness: The term is so obvious that it goes without saying. Furthermore, there must be one and only one thing that would be implied by the parties. For example, in Codelfa Construction Pty Ltd v. State Rail Authority of New South Wales,[15] a term regarding the inability of construction company to work three shifts a day could not be implied because it was unclear what form it would have taken. In English Law, This principle was established in the case of Spring v. NASDS[16], in the context of a Trade Union membership contract.
  4. Clear expression: The term must be capable of clear expression. No specific technical knowledge should be required.
  5. Consistency: The implied term may not contradict an express term.

In Australia, the High Court has ruled that the test in BP Refinery applies only to formal contracts, while the test in Byrne and Frew v. Australian Airlines Ltd[17] shall apply to informal contracts: A contract is a legally binding exchange of promises or agreement between parties that the law will enforce. ... This article or section does not adequately cite its references or sources. ... English law is a formal term of art that describes the law for the time being in force in England and Wales. ... A trade union or labor union is a continuous association of wage-earners for the purpose of maintaining or improving the conditions of their employment. ... High Court usually refers to the superior court of a country or state. ... This article is about the corporation known as BP. For other uses, see BP (disambiguation). ... A formal contract is a contract where the parties have attempted to spell out all the terms, while an informal contract is one where the parties have not attempted to spell out all the terms. ...

  • Necessity: The term must be necessary to ensure reasonable or effective operation of a contract of the nature before the court.
  • Consistency: The implied term may not contradict an express term (same as for formal contracts).
  • Clear expression: The term must be capable of clear expression (same as for formal contracts).
  • Obvious: McHugh and Gummow JJ have stated that it must also be obvious.

A contract is a legally binding exchange of promises or agreement between parties that the law will enforce. ... A trial at the Old Bailey in London as drawn by Thomas Rowlandson and Augustus Pugin for Ackermanns Microcosm of London (1808-11). ...

Terms implied in law

These are terms that have been implied into standardised relationships.


Common Law.

  • Liverpool City Council v. Irwin[18] established a term to be implied into all contracts between tenant and landlord that the landlord is obliged to keep the common areas in a reasonable state of repair.
  • Wong Mee Wan v Kwan Kin Travel Services Ltd.[19] established that when a tour operator contracts to for the sale of goods. The most important legislation under United Kingom law is the Sale of Goods Act 1979, the Consumer Protection (Distance Selling) Regulations 2000 and the Supply of Goods and Services Act 1982 which imply terms into all contracts whereby goods are sold or services provided.

These terms will be implied into all contracts of the same nature as a matter of law. Legislation (or statutory law) is law which has been promulgated (or enacted) by a legislature or other governing body. ... The United Kingdom of Great Britain and Northern Ireland is a country in western Europe, and a member of the European Union. ... Lady Justice or Justitia is a personification of the moral force that underlies the legal system (particularly in Western art). ... The Consumer Protection (Distance Selling) Regulations 2000, SI 2000/2334, incorporates[1] Directive 97/7/EC into law of the United Kingdom. ... A contract is a legally binding exchange of promises or agreement between parties that the law will enforce. ... Lady Justice or Justitia is a personification of the moral force that underlies the legal system (particularly in Western art). ...


Statutory.


The rules by which many contracts are governed are provided in specialized statutes that deal with particular subjects. Most countries, for example, have statutes which deal directly with sale of goods, lease transactions, and trade practices. For example, most American states have adopted Article 2 of the Uniform Commercial Code, which regulates contracts for the sale of goods. The most important legislation implying terms under United Kingom law are the Sale of Goods Act 1979, the Consumer Protection (Distance Selling) Regulations 2000 and the Supply of Goods and Services Act 1982 which imply terms into all contracts whereby goods are sold or services provided. A contract is a legally binding exchange of promises or agreement between parties that the law will enforce. ... The Statute of Grand Duchy of Lithuania A statute is a formal, written law of a country or state, written and enacted by its legislative authority, perhaps to then be ratified by the highest executive in the government, and finally published. ... In political geography and international politics a country is a geographical entity, a territory, most commonly associated with the notions of state or nation. ... For American state, see: U.S. state Organization of American States Category: ... Legislation (or statutory law) is law which has been promulgated (or enacted) by a legislature or other governing body. ... The United Kingdom of Great Britain and Northern Ireland is a country in western Europe, and a member of the European Union. ... Lady Justice or Justitia is a personification of the moral force that underlies the legal system (particularly in Western art). ... The Consumer Protection (Distance Selling) Regulations 2000, SI 2000/2334, incorporates[1] Directive 97/7/EC into law of the United Kingdom. ... A contract is a legally binding exchange of promises or agreement between parties that the law will enforce. ... Good. ...


Terms implied by custom or trade

One is generally bound by the custom of the industry that one is in. To imply a term due to custom or trade, one must prove the existence of the custom, which must be notorious, certain, legal and reasonable[20][21]


Course of dealing

If two parties have regularly conduct business on certain terms, the terms may be assumed to be same for each contract made, if not expressly agreed to the contrary. The parties must have dealt on numerous occasions and been aware of the term purported to be implied. In Hollier v Rambler Motors Ltd.[22] four occasions over five years was held to be sufficient. In British Crane Hire Corp. Ltd. v Ipswitch Plant Hire Ltd.[23] written terms were held to have been implied into an oral in which there was no mention of written terms. A contract is a legally binding exchange of promises or agreement between parties that the law will enforce. ...


Good faith

Main article: Good faith

It is common for lengthy negotiations to be written into a heads of agreement document that includes a clause to the effect that the rest of the agreement is to be negotiated. Although these cases may appear to fall into the category of agreement to agree, Australian courts will imply an obligation to negotiate in good faith provided that certain conditions are satisfied[24] Good faith, or in Latin bona fides, is the mental and moral state of honesty, conviction as to the truth or falsehood of a proposition or body of opinion, or as to the rectitude or depravity of a line of conduct, even if the conviction is objectively unfounded. ... A trial at the Old Bailey in London as drawn by Thomas Rowlandson and Augustus Pugin for Ackermanns Microcosm of London (1808-11). ... Good faith, or in Latin bona fides, is the mental and moral state of honesty, conviction as to the truth or falsehood of a proposition or body of opinion, or as to the rectitude or depravity of a line of conduct, even if the conviction is objectively unfounded. ...

  • Negotiations were well-advanced and the large proportion of terms have been worked out; and
  • There exists some mechanism to resolve disputes if the negotiations broke down.

The test of whether one has acted in good faith is a subjective one; the cases suggest honesty, and possibly also reasonably. There is no such implied term under UK common law: an attempt was made by Lord Denning in a series of case during the 70s and 80s but they are no longer considered 'good law'. European legislation imposes this duty, but only in certain circumstances. This article concerns the common-law legal system, as contrasted with the civil law legal system; for other meanings of the term, within the field of law, see common law (disambiguation). ... Alfred Thompson Denning, Baron Denning (23 January 1899–6 March 1999) was a British barrister from Hampshire who became Master of the Rolls (the senior civil judge in the Court of Appeal of England and Wales) and was generally well liked, both within the legal profession and outside it. ... Centuries: 1st century BC - 1st century - 2nd century Decades: 20s - 30s - 40s - 50s - 60s - 70s - 80s - 90s - 100s - 110s - 120s 70 71 72 73 74 75 76 77 78 79 Note: Sometimes the 70s is used as shorthand for the 1970s, the 1870s, or other such decades in other centuries... Centuries: 1st century BC - 1st century - 2nd century Decades: 30s - 40s - 50s - 60s - 70s - 80s - 90s - 100s - 110s - 120s - 130s 80 81 82 83 84 85 86 87 88 89 Note: Sometimes 80s is used as shorthand for the 1980s, the 1880s, or other such decades in different centuries. ...


The Unfair Terms in Consumer Contracts Regulations 1999[25] reg 8 will render ineffective any 'unfair' contractual term if made between a seller or supplier and a consumer.[26] Regulation 5 of the Statutory Instrument further elaborates upon the concept of 'unfair', which is rather novel to English law. 'Unfair' is a term that was not individually negotiated (i.e. standard form) that "causes a significant imbalance in the parties' rights and obligations arising under the contract to the detriment of the consumer"[27]. This is not possible if the term is not contrary to 'good faith'; such as in Director General of Fair Trading v First National Bank[28], wherein the lack of a seemingly unfair interest term would leave the bank open to a very poor deal whereby no interest could be charged. Statutory Instruments (SIs) are parts of United Kingdom law separate from Acts of Parliament which do not require full Parliamentary approval before becoming law. ... Motto (French) God and my right Anthem God Save the Queen England() – on the European continent() – in the United Kingdom() Capital (and largest city) London (de facto) Official languages English (de facto) Unified  -  by Athelstan 967 AD  Area  -  Total 130,395 km²  50,346 sq mi  Population  -  2007 estimate 50... A standard form contract (sometimes referred to as an adhesion contract or boilerplate contract) is a contract between two parties that does not allow for negotiation, i. ... A contract is a legally binding exchange of promises or agreement between parties that the law will enforce. ... For other senses of this word, see interest (disambiguation). ... For other senses of this word, see interest (disambiguation). ...


"Subject to" contracts

If a contract specifies "subject to contract", it may fall into one of three categories:[29] A contract is a legally binding exchange of promises or agreement between parties that the law will enforce. ...

  1. The parties are immediately bound to the bargain, but they intend to restate the deal in a formalised contract that will not have a different effect; or
  2. The parties have completely agreed to the terms, but have made the execution of some terms in the contract conditional on the creation of a formalised contract; or
  3. It is merely an agreement to agree, and the deal will not be concluded until the formalised contract has been drawn up.

If a contract specifies "subject to finance", it imposes obligations on the purchaser:[30] A contract is a legally binding exchange of promises or agreement between parties that the law will enforce. ... A contract is a legally binding exchange of promises or agreement between parties that the law will enforce. ...

  • The purchaser must seek finance; and
  • When offers of finance arrive, the purchaser must make a decision as to whether the offers of finance are suitable.

This may also refer to contingent conditions, which come under two categories: condition precedent and condition subsequent. Conditions precedent are conditions that have to be complied with before performance of a contract With conditions subsequent, parties have to perform until the condition is not met. Failure of a condition repudiates the contract this is not to necessarily discharge it. Repudiation will alway gives rise to an action for damages. A contract is a legally binding exchange of promises or agreement between parties that the law will enforce. ... A contract is a legally binding exchange of promises or agreement between parties that the law will enforce. ... It has been suggested that civil trial be merged into this article or section. ...


References

  1. ^ Martin, E [ed] & Law, J [ed], Oxford Dictionary of Law, ed6 (2006, London:OUP).
  2. ^ Not to be confused with a product warranty, which is always referred to as a 'guarantee' in law.
  3. ^ Poussard v Spiers and Pond (1876) 1 QBD 410
  4. ^ Bettini v Gye (1876) 1 QBD 183
  5. ^ As added by the Sale of Goods Act 1994 s4(1).
  6. ^ [1962] 1 All ER 474
  7. ^ Maredelanto Compania Naviera SA v Bergbau-Handel GmbH. The Mihalis Angelos [1970] 3 All ER 125.
  8. ^ [1976] 3 All ER 570
  9. ^ [1954] 1 All ER 855
  10. ^ [1957] 1 WLR 370
  11. ^ Routledge v McKay [1954] 1 All ER 855
  12. ^ (1856) 16 EG 396
  13. ^ (1977) 180 CLR 266
  14. ^ (1889)14 P.D. 64
  15. ^ (1982) 149 CLR 337
  16. ^ [1956] 1 W.L.R. 585
  17. ^ (1995) 185 CLR 410
  18. ^ [1976] 2 WLR 562
  19. ^ [1995] 4 All ER 745
  20. ^ Con-stan Industries of Australia Pty Ltd v. Norwich Winterthur Insurance (Australia) Ltd (1986) 160 CLR 226
  21. ^ Frigaliment Importing Co., Ltd., v. B.N.S. International Sales Corp., 190 F. Supp. 116 (S.D.N.Y. 1960) (plaintiff failed to prove what he meant by "chicken") and U.C.C. § 1-205.
  22. ^ [1972] QB 71
  23. ^ [1975] QB 303
  24. ^ Coal Cliff Collieries Pty Ltd v. Sijehama Pty Ltd (1991) 24 NSWLR 1
  25. ^ SI 1999/2083
  26. ^ For definitions, see reg 3(1).
  27. ^ Unfair Terms in Consumer Contracts Regulations 1999 reg 5(1)
  28. ^ [2001] 3 WLR 1297
  29. ^ Masters v. Cameron (1954) 91 CLR 353
  30. ^ Meehan v. Jones (1982) 149 CLR 571


 
 

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