The general terms and conditions of sale encompass the rules and guidelines governing the sale of a product or service. They outline the rights, responsibilities, and obligations of both the seller and the buyer.
Basic contract conditions fall into several categories: Express Conditions - Written directly in your contract. Implied Conditions - Understood based on common law or industry standards. Performance Conditions - Specific actions parties must complete.
Contingencies. As we explained earlier, contingencies are placed in property agreements to indicate that conditions must be met before a sale can be completed. Contracts have contingencies to protect the buyer and the seller in the property agreement.
A condition of the contract is a requirement and one or both parties must comply. Conditions of a contract can be expressed or implied. An express condition is one that has been explicitly stated in a contract. An implied condition is not specifically written out, but the law could assume certain conditions exist.
Ing to Section of Sales of Goods Acts (1932), 'A condition is a stipulation essential the main purpose of the contract, the breach of which gives rise to a right to treat the contract as repudiated. Condition is a crucial matter in a sale agreement that is specified by a buyer to the seller.