1. xxxxxxxxxxxxxxx Contracts: Agreements with legal consequences
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Law
Contracts:
Agreements with legal consequences
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2. xxxxxxxxxxxxxxx
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The terms of a contract
Express terms: Terms which are specifically communicated
Implied terms: Terms which are applicable by statute, custom or common law
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3. Conditions and warranties
Conditions: most important terms in a contract
In case of breach, the injured party may cancel the contract and does not have to perform his part and may sue for damages.
Warranties: minor terms in a contract
In case of breach, the injured party may not cancel and has to perform his part. May sue for consequential damages (direct result of the breach).

4. Limitation of liability
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Limitation of liability
Exemption/exclusion clause
Criteria
Incorporated within the contract
Notification prior to acceptance
Sufficient degree of notice (highlighted, underlined)
Clear and unambiguous
Liability cannot be excluded for death or injury caused by negligence
Statutory implied terms cannot be excluded
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