A 'Condition' Is

question 26

Multiple Choice

A 'condition' is:

• A)a term of the contract that is of fundamental importance.
• B)a term of the contract of lesser importance, in the absence of which the party favoured by the term would have entered into the contract anyway.
• C)a term of a contract that is not able to be categorised as a fundamental term or as a term of lesser importance, which the court will determine dependant on the seriousness of the breach.
• D)an unenforceable term that the court will sever from a contract in the event of a dispute.

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Definitions:

Cost And Quality

Describes the relationship between the cost of producing a good or service and its quality, often indicating that higher quality can lead to higher production costs.

Global Convergence

The process by which ideas, goods, and services spread and integrate across different cultures and countries, leading to increased similarity.

Infrastructure Development

The construction and improvement of foundational services and facilities such as roads, bridges, water supply, and electricity networks that are necessary for economic development.

Raw Materials

The basic materials from which products are manufactured or made, typically extracted from the natural environment.