Implied condition and warranties in a contract of sale may be neglected or varied by (i) express agreement between the parties, (ii) the course of dealing between them and (iii) the custom or usages of trade.

This is TRUE. Implied conditions and warranties in sale contracts can indeed be excluded or modified in three ways: by express agreement between parties, by established course of dealing between them, or by custom/usage of trade. These exceptions allow flexibility while protecting buyers where parties haven't clearly agreed otherwise. This balances contractual freedom with consumer protection.