Terms of the contract

Basically in every contract there are two types of term. 1. Condition 2. Warranty

Condition
Conditions are the major term and it has the major effect under the contract. If there will be any breach of condition then the injured party can terminate the contract then and then. Ex. If Rahim and karim has to make a contract then the contracting parties have to contract of a legal product and which is obeying all the terms of the Bangladesh government. There are two types of condition 1. Express condition 2. Implied condition

Express condition
Express condition are those condition which has either been express by the contracting parties or by the government in a particular situations in order to regulate the situation. Ex. if I tell Nahid that give me 50 beg cement. I will give you your money tomorrow, so here tomorrow is a condition and government condition is like that if I want to buy a company that I have to register.

Implied condition
Implied conditions are those conditions which has not been expressed by the contracting parties but it has either been established by the government or by the custom or by the tradition. Ex. If I go to the ecstasy, the seller have a right to sell the product.

Warranty
Warranty is also important term and it has also important effect under the contract if there will be any breach of warranty then injured party who has two options. Either he can terminate the contract or he can take the damages for the breach and he can continue the same contract. Ex. If I sell my mobile phone and the cover. So here I give a warranty for the cover. There are two types of warranty 1. Express warranty 2. Implied warranty

Express warranty
Express warranty are those warranty which has either been express by the contracting parties or by the government in a particular situations in order to regulate the situation. Ex. I sell a mobile and a cover. Also I tell that the cover which I give it has 1 year warranty.

Implied warranty
Implied warranties are those warranties which has not been expressed by the contracting parties but it has either been established by the government or by the custom or by the tradition.