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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 categorized as a condition, warranty or innominate term.
Term in contract law that allows limited modifications to a contract after the original form has been agreed to by all parties. sub nomine: under the name Abbreviated sub nom.; used in case citations to indicate that the official name of a case changed during the proceedings, usually after appeal (e.g., rev'd sub nom. and aff'd sub nom.) sub ...
Warranties are less important terms whose violation does not void the contract, but might entitle one of the parties to receive monetary damages. [4] In contract law, property law and constitutional law, "term" may mean a period of time over which a lease, office, or other privilege is held, for example in "fixed-term contract".
how are the terms of the contract to be interpreted; whether terms are implied into the contract; what controls are placed on unfair terms; The terms of a contract are the essence of a contract, and tell the reader what the contract will do. For instance, the price of a good, the time of its promised delivery and the description of the good ...
A contract, or a bid that names a contract without a trump suit. Notrump is the highest-ranking strain. WikiProject Contract bridge deprecates the two-word "no trump", however "no trump" is the usual spelling in the United Kingdom and in those European countries which have adopted this English term.
A term is a condition (rather than an intermediate or innominate term, or a warranty), in any of the following five situations: (1) statute explicitly classifies the term in this way; (2) there is a binding judicial decision supporting this classification of a particular term as a "condition"; (3) a term is described in the contract as a ...
An example of the latter is the requirement that a contract of guarantee be evidenced in writing, which is found in the Statute of Frauds. Similarly, the limitation period prescribed for an action may be shorter for an oral contract than it is for a written one. The term verbal contract is sometimes used
A detailed statement of the mutual demands in the nature of debt and credit between parties, arising out of contracts or some fiduciary relation. [1] Act of God. Under the term "act of God" are comprehended all misfortunes and accidents arising from inevitable necessity, which human prudence could not foresee or prevent. [1] Ad valorem ...