BTF1010 Lecture Notes - Lecture 4: Fundamental Breach, Dick Bentley, City Of Sydney

• School: Monash University
• Department: Business - BTF
• Course: BTF1010
• Professor: Professor

Document Summary

The rights and obligations of parties to a contract are determined by the terms of that contract. These terms may be express (whether in writing or oral) or implied (not actually agreed to by the parties but they are part of the contract) Express terms are ones that the parties have specifically agreed to at or before the time they made the contract. Sometimes identifying the express terms is simple - for example, if the contarct is in a written document and signed by both parties. On the other occasions - where the agreement is oral or the terms are displayed in another place (eg on the web or ont he wall of the gym) - it is less clear. Identifying terms - inc collateral terms - and representations. To be a term of a contract the parties must have intended to promise - not just induce or persuade .