Types of contractual terms
Contractual terms are defined as conditions, warranties or innominate terms.
A condition is a term that if breached, gives the provoked parties the power to either terminate the contract or affirm it. The aggrieved individuals can also claim the damages. It a basic term and goes to the heart of a contract. Conditions either be expressed or implied. Expressed condition clearly described an agreement between both parties. Breach of contract can be determined with liability assessed and damages awarded. Implied conditions are assumed to be accepted by both parties regarding their obligations. However, implied conditions can be superseded by an expressed condition.
A warranty is a term that, if breached, does not give the provoked individuals the right to terminate the contract, it gives rise only to a right to claim damages. A warranty is an assurance about a factual matter. Warranty can be expressed or implied and can exist for the lifetime of the contract.
Innominate terms, where the remedy for breach will depend on the effect of that breach at the time it happens. If there is a substantial effect on the aggrieved party, it will be likely a fundamental term and give the right to the party to terminate the contract. If not, that party may only claim damages. The remedy for the breach will depend on how the injured party is affected at the time the breach happens.
Reference
Zhao, L. (2019). Classification of contractual terms and termination clauses in English law. In Research Handbook on Maritime Law and Regulation. Edward Elgar Publishing.