Question

highlight the differents types of terms ?​

Answer 1

Answer:

16

Explanation:

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Answer 2

Answer:

TERM: –

A contractual term can be defined as ‘Any provision forming part of a contract’. Each term gives rise to a contractual obligation and breach of which can give rise to litigation. All terms are not stated expressly but some terms carry less legal gravity as because they are peripheral to the objectives of a contract.

KINDS OF TERMS: –

There are two basic types of Terms which are defined as under.

Implied Terms.

Express Terms.

Implied Terms: – Implied terms are the terms in which it has not been mentioned by either party that will nonethless be included in the contract, often because the contract does not make any commercial sense without that term. There are two main types of Implied term.

Terms Implied by Statue.

Terms Implied by Courts.

Express Terms: – Express terms can be defined as the terms that have been specifically

mentioned and agreed upon by both parties at the time of making that contract and they can be either in oral or in written.

Explanation:

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