LAWS1100 Study Guide - Midterm Guide: Parol Evidence Rule, Non Est Factum, Collateral Contract
Document Summary
The terms of the contract are the specific details of the agreement, including the details about each party"s rights and obligations. There are two types of contractual term: express terms and implied terms. Implied terms include both those implied by the courts and any relevant statutory terms. Express terms are those terms explicitly agreed upon by the parties. The terms may be in writing or they may be agreed upon verbally. L"estrange v f graucob ltd (1934) 2 kb. Petelin v cullen (1975) 132 clr 355: could not read english. Le mans grand prix circuits pty ltd v lliadis (1998) 4 vr 661: The court may be wiling to decide that the contract is void and unenforceable. Implied terms are terms that were not necessarily discussed or negotiated by the parties, but are nevertheless included in the contract as a result of the operation of certain legal rules.
