Which TWO of the following statements regarding contractual terms are correct? (1) The principle of freedom of contract states that parties may include in their contract any terms that they see fit (2) To be valid, a contract must be complete in its terms (3) Third parties may not determine an essential term of the contract (4) Where a term is classified as a condition, the only remedy to an injured party if it is breached is to claim damages
A、1 and 2
B、1 and 4
C、2 and 3
D、2 and 4
A、1 and 2
B、1 and 4
C、2 and 3
D、2 and 4
【参考答案及解析】
The principle of freedom of contracts states that parties are generally free to form a contract as they wish, but to be valid, a contract must be complete in its terms. Parties may include a term that allows a third party to determine an essential term. Where a condition is breached, the injured party may claim damages or treat the contract as discharged.
The principle of freedom of contracts states that parties are generally free to form a contract as they wish, but to be valid, a contract must be complete in its terms. Parties may include a term that allows a third party to determine an essential term. Where a condition is breached, the injured party may claim damages or treat the contract as discharged.