Terms
A term is any clause or provision in a contract. The two main issues which arise in relation to contractual terms are: what are the terms of the contract (identification) and what are their legal effects (construction).
Apart from the terms expressly agreed, by reason of what the parties have written or said, implied terms may also exist, to impose obligations on either or both of the parties or to qualify the terms of their bargain. Although some statements made before the contract was entered into may be intended to operate as terms, not all such statements operate as terms.
Read more about this topic: Australian Contract Law
Famous quotes containing the word terms:
“When you draw near to a town to fight against it, offer it terms of peace.”
—Bible: Hebrew, Deuteronomy 20:10.
“... the constructive power of an image is not measured in terms of its truth, but of the love it inspires.”
—Sarah Patton Boyle, U.S. civil rights activist and author. The Desegregated Heart, part 1, ch. 15 (1962)
“Ethical and cultural desegregation. It is a contradiction in terms to scream race pride and equality while at the same time spurning Negro teachers and self-association.”
—Zora Neale Hurston (1891–1960)