Legal English Vocabulary - Contract Law 2 | Baamboozle - Baamboozle

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Less important terms of a contract.

warranties

Refers to legal responsiblity.

liability

The most important terms of a contract.

conditions

Reaching greement on all of the detailed points of an agreement.

come to terms

Officially accepting the contract by signing a paper version.

ratify an agreement

Section in which particular terms of a contract are written.

clauses

The exact terms written into the contract or discussed during negotiations.

express terms

If one party in a contract is a limited company then that company's owners enjoy....

limited liability

The clauses which state that the party is not responsible for certain things to happen.

exclusion clauses

A contract that is valid under the law is...

legally binding

Statements that can not be used as evidence in legal cases are made....

without prejudice

If a condition is not met the contract is broken or...

breached

When each person or business is individually responsible for the entire contract they are...

joint & severally liable

The terms which are not directly stated but still govern the contract.

implied terms