What is the Difference Between Terms and Conditions?

The main difference between terms and conditions lies in their purpose and nature within a contract. Here are the key distinctions:

• Terms: These define the broad agreement between the two parties, outlining the contractual relationship. Terms are used to clarify what the buyer expects to be done or included in the property. They create fixed, static, non-variable agreements between the parties, such as acknowledgments that the parties will complete a payment or cover certain costs. Terms are not unilateral and can only be altered by mutual amendment between the parties.
• Conditions: These are specific clauses that must be met for the deal to go through successfully. Conditions are generally unilateral, giving one party the responsibility to fulfill or waive them by an agreed-upon time for the sale to be finalized. Conditions specify the circumstances under which the agreement will be binding and enforceable.

In summary, terms are used to establish the general contractual relationship between the parties involved, while conditions are specific requirements that must be met for the contract to be binding and enforceable.

Comparative Table: Terms vs Conditions

The terms "terms" and "conditions" are both used in legal documents, but they have subtle differences. Here is a table that highlights the differences between the two:

Some key points to remember:

• Terms are more specific and detailed, outlining the responsibilities and obligations of each party in an agreement.
• Conditions are contingencies that must be met for the agreement to become binding and enforceable, often based on specific events or actions.

Both terms and conditions are essential components of legal documents, as they help establish the framework and rules governing the relationship between parties involved in an agreement.