Caution: I am neither a native, nor a teacher
I think, in general English they look have similar meanings. However, in legal terminology, they have vitally different meanings.
In the common law(law of England and Wales), the terms of a contract are either conditions, warranties, or innominate terms. Depending on which of these categories the term belongs to, the effect of a breach of contracts differs. For example, if a condition is breached, the aggrieved party is entitled to treat the contract as repudiated, however it can only claim damages(compensation) if a warranty(another kind of terms) is not complied with.
Simply, in the contracts conditions are kind of terms which are more important than the other terms.
Student or Learner