Which of the following statements concerning contractual terms are true?
Terms are usually classified as either conditions or warranties, but some terms may be unclassifiable in this way;
If a condition in a contract is not fulfilled the whole contract is said to be discharged by breach;
If a warranty in a contract is not fulfilled the whole contract is said to be discharged by breach, but either party may elect to continue with his performance;
Terms which are implied into a contract by law are always contractual conditions.
A. (i) and (ii) only. B. (i), (ii) and (iv) only. C. (i), (iii) and (iv) only. D. (i) and (iv) only.
Most terms are classified as either conditions or warranties but some terms may not be classifiable, these are innominate terms. Breach of a condition discharges the contract. Terms implied can either be conditions or warranties.
