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Contents of a Contract

Contents of a Contract

The contents of a contract are known as terms or clauses. An agreement will generally consist of various terms. Even the simplest forms of contract will have terms. The main terms generally being the price paid and the subject matter of the contract, eg. the goods or services provided. It is common for businesses to have standard form written terms which can be quite lengthy. It is not a requirement that terms are written in simple contracts, although writing is required in certain types of contract eg. contracts for the sale of land, mortgages and consumer credit agreements. Contract terms may be express or implied and they may be classed as either conditions, warranties or innominate terms. Where a contract is formed orally it may be difficult to establish which statements made in negotiating the contract amount to terms and which statements are merely representations.


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