What are implied terms of the contract and its examples?

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Implied terms are not made express (like express terms) within the contract but may be implied into the contract in the following ways:

by custom: a term can only be implied into a contract by custom if there is no express term to the contrary. These may be terms which are customary in the market in which the contract is made or have been in previous dealings between the parties.

by statute: various statutes imply terms intro different specific contracts. For example, the condition that employment contracts will be automatically transferred is implied under statute in the contract for the sale of the business.

by common law: by the intention of the parties, if it is a term which is necessary to make the contract work.

See, by contrast, the express terms:

Express terms are set out and stipulated expressly in the contract.

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