Contract Terms

Question 1

What do terms form?

Answer 1

The contents and subject matter of the contract.

Question 2

What are terms?

Answer 2

The part of the contract that the parties agree to perform for the contract to be fulfilled.

Question 3

What happens if either party fails to carry out the term?

Answer 3

They will be in breach of contract and legal recourse is possible for the breach.

Question 4

What can terms be?

Answer 4

Express, implied or imputed

Question 5

How are terms imputed?

Answer 5

By process of law

Question 6

What are conditions?

Answer 6

Lesser terms and descriptive.