3 Conents of a contract.pptVIP

§3 Contents of a contract 合同的内容 Ⅰ. Determining the terms of a contract As already seen , the law of contract is unique in that parties themselves generally create the obligations and liabilities that form the substance of their relationship. These individually agreed obligations and liabilities are called “ terms of the contract”. The widely accepted principle is that the contractual obligations of the parties may be express or implied. Ⅱ. Express and implied terms 1. Express terms (明示条款) Express terms are terms that have been specifically mentioned and agreed by both parties at the tim