The document discusses the distinction between terms and mere representations in a contract. Terms form part of the contract while representations help induce the contract but do not form part of it. Whether a statement is a term or representation depends on factors like the statement's importance, any special knowledge or skill of the person making it, the time between the statement and contract formation, and whether it was reduced to writing. Breach of a term allows repudiation of the contract while breach of a representation only allows damages.
![The Distinction between Terms and Mere Representations ,[object Object],[object Object]](data:image/gif;base64,R0lGODlhAQABAIAAAAAAAP///yH5BAEAAAAALAAAAAABAAEAAAIBRAA7)