Question

List three provisions that would be material in a contract, and three that would not be.

Answer 1

Basically, the provisions that come under material in a contract are like being touched by anyone. And they can be felt which going through that provision. The best examples can be Payment (Money can be felt with hand), Item to be sold (Can be felt with hand), and term of the contract (Felt with the mind).

The provisions that come under not materialistic would be: notices, choice of law, arbitration etc. these are the provisions which cannot be felt as normal.