Dictionary

  • Implied term

    (in the context of contracts)
    A term which is part of a contract even though the parties have not consciously included it, such as where the term is implied by statute, custom or trade usage or by past dealings between the parties or where the term is necessary to give efficacy to the contract. Such terms concern the presumed intention of the parties, based on duties imposed by the law.

made by avanavo.com

×