ABSTRACT
We have now reached the point where we know that a contract has been validly formed. In this section we will examine the contents of the contract (normally the terms that the parties have agreed to when they formed their contract). We’ll be looking at the terms contained in the contract. Traditionally these terms have been divided into conditions (the more important terms) and warranties (the less important terms). However, we’ll see that sometimes the terms are not pre-classified into conditions and warranties, but are left in a ‘limbo’ and classified as innominate terms. It is only when one of the parties to the contract breaks an innominate term that its importance will be considered, this is, should it in the circumstances be now classified as a condition or a warranty?
