Contractual Terms
A contractual term is "an provision forming part of a contract". Each term gives rise to a contractual obligation, breach of which can give rise to litigation. Not all terms are stated expressly and some terms carry less legal weight as they are peripheral to the objectives of the contract.
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Famous quotes containing the word terms:
“It is surely a matter of common observation that a man who knows no one thing intimately has no views worth hearing on things in general. The farmer philosophizes in terms of crops, soils, markets, and implements, the mechanic generalizes his experiences of wood and iron, the seaman reaches similar conclusions by his own special road; and if the scholar keeps pace with these it must be by an equally virile productivity.”
—Charles Horton Cooley (1864–1929)