Which of the following terms would be considered material terms?
A) Subject matter, but not price, quantity, quality or parties
B) Price and subject matter, but not quantity, quality or parties
C) Quantity, quality, and subject matter, but not price or parties
D) Subject matter, quality, and price, but not quantity or parties
E) Subject matter, price, parties, quality, and quantity

Question

Quizplus · Accepted Answer

Material terms are essential components of a contract that significantly affect the agreement. They typically include the subject matter, price, parties involved, quality, and quantity of the goods or services being exchanged. These terms are crucial for defining the obligations and expectations of the parties involved in the contract.

Which of the Following Terms Would Be Considered Material Terms