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LSDefine

Simple English definitions for legal terms

fundamental term

Read a random definition: effective date

A quick definition of fundamental term:

A fundamental term is a very important part of a contract that must be included for the contract to be valid. It is a rule that both parties must follow, and if one party doesn't follow it, the contract is broken. An implied term is a rule that is not written down but is still important. A material term is a rule that deals with important things like the price or quality of something. A nonfundamental term is a rule that is not as important. A term of years is a fixed period of time, like a lease on a house. A term of court is a period of time when a court is in session.

A more thorough explanation:

Definition: A fundamental term is a contractual provision that must be included for a contract to exist. It specifies an essential purpose of the contract, so that a breach of the provision through inadequate performance makes the performance not only defective but essentially different from what had been promised.

Examples: A fundamental term in a contract for the sale of a car would be the delivery date. If the seller fails to deliver the car on the agreed-upon date, it would be considered a breach of the fundamental term and the buyer could cancel the contract. Another example would be the price of a product in a sales contract. If the seller charges a different price than what was agreed upon, it would be a breach of the fundamental term and the buyer could take legal action.

Explanation: Fundamental terms are essential to the existence of a contract and are necessary for the parties to have a clear understanding of their obligations. Breaching a fundamental term can have serious consequences, such as canceling the contract or taking legal action. It is important for parties to clearly define and agree upon fundamental terms before entering into a contract.

fundamental law | fundamental trend

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Dkk
19:42
SEO is big money
2016 pushed the conservative party into populism irreversibly
Dkk
19:43
Maybe, but if this is populism, then every election is populist.
19:43
@Dkk: yeah register 1 website and every swinging tom dick and harry calls/emails/texts to 'help with seo'. like bruh, if YOU found it, what i am doing is working
Dkk
19:43
Indeed!
19:48
wasp, i think people are hopeful for a gov who at least attempts to care about the common man
MIAMI A
[] AromaticTroubledDormouse
20:55
How does one know if they are UR1 or UR2?
[] AromaticTroubledDormouse
20:56
CONGRATS MACAQUE!
TY
got a random stanford email and almost had a heart attack
ALSO CONGRATS!
Congrats1!
21:15
Miami A, yall I'm so excited I could cry.
21:15
Feel like I can finally stop holding my breath!! Whew!!!
[] baddestbunny
22:16
every time I get accosted by a strange man who follows me around because my male coworkers were too busy talking to walk me back to my car I get closer to saying we need to bring back traditional gender roles
Dkk
22:32
Nice! @Macaque
Dkk
22:32
@Aromatic, Have to guess.
Dkk
22:33
That sucks @Bunny do you have to go to the hospital?
[] baddestbunny
22:40
I said accosted not assaulted
23:35
guys. my notre dame address just went long is this good or bad
1a2b3c4d26z
23:37
Oooooo me too
23:37
omg is this good or bad
Dkk
23:47
Idk if gender roles are gunna fix that then.
23:49
it looks like most people who applied in october last cycle didn't get a decision until january... does it even mean anything that our addresses went long??
hows ED 2 compared to ED 1?
Dkk
0:10
No idea
windyMagician
0:34
reporting live to say my ndls address also went long
does it mean anything ^
Dkk
2:21
NDLS and Fordham took a very long time last year. It's good info for people to know.
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