Express Contractual Term: Difference between revisions
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(Created page with "A Express Contract Term is a contractual term that is explicitly stated within a contractual agreement. * <B>Context:</B> ** It can specify exactly what the parties have agreed upon, including conditions such as payment terms, delivery deadlines, or specific duties each party must fulfill. ** It can range from being an Oral Contract Term (if verbally agreed upon and noted as express) to a Written Contract Term (if documented in writing in the contract...") |
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Revision as of 21:40, 22 April 2024
A Express Contract Term is a contractual term that is explicitly stated within a contractual agreement.
- Context:
- It can specify exactly what the parties have agreed upon, including conditions such as payment terms, delivery deadlines, or specific duties each party must fulfill.
- It can range from being an Oral Contract Term (if verbally agreed upon and noted as express) to a Written Contract Term (if documented in writing in the contract).
- It can be subject to interpretation based on its clarity and precision, and it may be enforced more strictly than implied terms due to its explicit nature.
- It can include terms essential to the contract's core obligations, such as price and scope of services, which, if breached, may lead to significant legal consequences.
- ...
- Example(s):
- an Employment Contract that explicitly states the employee's salary, job title, and responsibilities.
- a Lease Agreement that outlines the monthly rental amount, payment due dates, and specific tenant and landlord obligations.
- ...
- Counter-Example(s):
- Implied Contract Terms
- an assumption that employees will adhere to standard industry work hours, which is often not explicitly written in employment contracts but implied.
- ...
- See: Written Contract Term, Oral Contract Term, Contractual Obligation.