BUSI 4000 Lecture Notes - Lecture 9: Condition Subsequent, Parol Evidence Rule, Contract Clause

• School: Memorial University
• Department: Business Administration
• Course: BUSI 4000
• Professor: Beth Mc Grath

Document Summary

Express terms: terms of the contract that state of make explicit one party"s promise to another. Implied terms: terms that are not expressly included in a contract but that are necessary to give effect to the parties" intention. A judge may imply terms in a contract to make the contract workable. Courts are required to enforce the contract as it is written and to rely primarily on the plain, ordinary meaning of the words that the parties have chosen. The court assigns as reasonable a meaning as possible to value or ambiguous terms. If the contract has been drafted by one of the parties, any ambiguity in language will be constructed against that party in favour of the other. Terms that are not expressly included in a contract but that are necessary to give effect to the parties" intention. Terms imposed for business efficacy to make the contract workable. Customs in the trade of the transaction.