L4M3 Exam Dumps | Which of the following are examples of express terms in a contract? Select TWO that apply.

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Question 68/84

Which of the following are examples of express terms in a contract? Select TWO that apply.

A. A retention of title term

B. Term inserted by the Sale of Goods Act 1979

C. A liquidated damages term

D. Term inserted through business efficacy test

E. Term inserted through the custom of the trade

Correct Answer: A,C,D

Express terms are those explicitly stated and agreed upon by the parties within the contract. A retention of title clause specifies that ownership of goods remains with the seller until certain conditions are met, while a liquidated damages clause outlines predetermined compensation in case of specific breaches. In contrast, terms from the Sale of Goods Act 1979, business efficacy tests, and trade customs are considered implied terms, not expressly stated in the contract.
Reference:CIPS L4M3 Commercial Contracting Study Guide, Chapter 3, Section 3.1.1 - Express and implied terms.

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