‘[T]here are two ways in which we can distinguish between breaches which are repudiatory (and, hence, give the other party the right to terminate the contract), and breaches which are not. The first is to look at the seriousness of the breach…The second is to look at the seriousness of the term that was breached…Historically, English law focused only on the importance of the term. In the latter half of the 20th century, the law shifted so that it now considers a combination of both factors. The law operates through dividing contractual terms into three types of classes: conditions (comprising the most important terms of the contract), warranties (comprising the least important terms of the contract), and innominate terms (comprising terms of intermediate importance).’
TT Arvind, Contract Law (2019, OUP, 2nd edn.), 449.
With reference to relevant case law and other materials, explain and critically analyse the above quotation and the area of law to which it relates.