What are the different types of contract terms?

Contractual language is often used without ensuring each party knows the correct legal terms. To make this easier, we've broken down the types of contract terms you may come across in a standard contract. Typically, contract terms can be defined into three categories: conditions, warranties, or innominate terms.

What are contract terms?

A contract term is any provision or term that forms part of a contract. Each of these terms provides a contractual obligation, which can lead to litigation if breached. Every contract a business enters will have critical terms that fall into various categories.

What are implied terms in a contract?

Implied Terms: the terms that are implied in a contract by law, custom and practice without actually being mentioned in writing or verbally by any Party to the contract. Terms implied by custom and practice can always be overridden by Express Terms, but some terms implied by law cannot be overridden at all.