Charter Party Condition or Warranty?

Conditions are said to go to the root of the contract. This includes any term that is part of the description of the thing sold. A condition can be a statement of fact or a promise. If the statement of fact proves to be untrue, or if the promise is not fulfilled, the innocent party may treat the breach as a repudiation and is then allowed to refuse further performance of his side of the contract. The following are the tests that the courts use to ascertain whether a term is a condition or not. Relative importance to the parties (description of the subject matter). The more important a term is to the parties, the more likely it is to be a condition.

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