Contents of a contract essay
The law recognizes both types of the contents of a contract, that is, expressed and implied and has its implication when looked from the Customary, Common law, and Statutory perspectives. But, before discussing the implication of the implied contents of a contract under different legal perspectives, there is a need to comprehend the core meaning of the terminology ‘implied content of a contract’.
The Definition
The dictionary (Cobuild, 1996) meaning of implied is, “something which indirectly indicates that it is the case”. A synonym for the same is also implicit, which means implied but not expressed. Thus we need to read between the lines or to find it, as it is not physically expressed in the contract.
A dictionary of law (Osborn’s Concise, 1993) provides the following definition of the implied term: “A term in a contract which has not been expressively stated but which the courts are willing, or required by statute, to imply.
A ministry of the New Zealand government’s also interprets the implied terms as an unstated part of a contract. According to them “implied terms are most commonly implied by statute – ie, that kind of contract is covered by a particular Act. eg, contracts for the sale of goods will have an implied term which guaranteed that goods will be of acceptable quality; the contract does not have to specifically mention the Customer Grantee Act”. Read more…