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CIPS Exam L4M3 Topic 5 Question 52 Discussion
Topic #: 5
Which of the following are likely to be express terms in a contract?
1. Legislation
2. Custom and practice
3. Contract particulars
4. Terms and conditions
Express terms are the terms of the agreement which are expressly agreed between the parties. Ideally, they will be written down in a contract between the parties but where the contract is agreed verbally, they will be the terms discussed and agreed between the parties.
The types of express terms to be found in a contract are many and varied and will depend on the type of contract. Any term written into the contract is an express term and may refer to price, time scales, warranties and indemnities, limitations on liability, conditions precedent and so on.
- Contracts: Express and Implied Terms
- CIPS study guide page 32
LO 1, AC 1.2
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