condition and warranty

What is a condition in contract law?

A condition is a vital term in a contract, which, if not fulfilled, can enable the aggrieved party to terminate the contract and seek damages.

What is a warranty in contract law?

A warranty is a less critical term in a contract, where a breach does not allow for termination but may enable the aggrieved party to seek damages.

What is the difference between a condition and a warranty?

The main difference is that a breach of a condition can lead to termination of the contract, whereas a breach of a warranty cannot.

Can a warranty be converted to a condition?

Yes, a warranty can be elevated to a condition if the parties agree, often through express terms in the contract.