Define: Term

A term refers to a provision or condition included in a contract or agreement that outlines the rights, obligations, and responsibilities of the parties involved.

Yes, a term can be implied in a contract if it is necessary to give effect to the intentions of the parties or if it is customary in similar contracts.

Yes, a term can be modified or changed after the contract is signed, but it generally requires the agreement of all parties involved and should be documented in writing.

If a party breaches a term in a contract, the non-breaching party may be entitled to remedies such as damages, specific performance, or termination of the contract, depending on the circumstances and the terms of the contract.

Yes, a term can be considered unfair or unconscionable if it is excessively one-sided, oppressive, or takes advantage of a party’s vulnerability. In such cases, the court may refuse to enforce or modify the term.

Yes, a term can be implied by custom or trade usage if it is widely recognized and accepted within a particular industry or trade.

Yes, a term can be considered ambiguous or unclear if its meaning is not clear or if it can be reasonably interpreted in more than one way. In such cases, the court may interpret the term based on the intentions of the parties or the surrounding circumstances.

Yes, a term can be waived or excluded if the parties agree to do so explicitly or if it is customary in a particular industry or trade. However, certain terms may be protected by law and cannot be waived or excluded.

Yes, a term can be implied by law if it is necessary to give effect to the intentions of the parties or if it is required by statute or common law.

No, a term cannot be enforced if it is illegal or against public policy. Courts will refuse to enforce such terms as they are considered void and unenforceable.