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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 will all be terms of the contract.
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 ...
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 ...
Term used in contract law to specify terms that are voided or confirmed in effect from the execution of the contract. Cf. ex nunc. Ex turpi causa non oritur actio: ex nunc: from now on Term used in contract law to specify terms that are voided or confirmed in effect only in the future and not prior to the contract, or its adjudication. Cf. ex ...
The law of contracts varies from state to state; there is nationwide federal contract law in certain areas, such as contracts entered into pursuant to Federal Reclamation Law. The law governing transactions involving the sale of goods has become highly standardized nationwide through widespread adoption of the Uniform Commercial Code .
In contract law, a contract of sale, sales contract, sales order, or contract for sale [1] is a legal contract for the purchase of assets (goods or property) by a buyer (or purchaser) from a seller (or vendor) for an agreed upon value in money (or money equivalent).
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