- implied term implied term ➔ term1
* * *implied term UK US noun [C] LAW► a particular right or duty that is understood to be part of a legal agreement, although it is not clearly stated: »
The relevant provisions in the Supply of Goods and Services Act regarding hire agreements include implied terms about quality and fitness for purpose.
Financial and business terms. 2012.
Look at other dictionaries:
implied term — A contractual term that has not been expressly agreed between the parties, but has been implied into the contract either by common law or by statute. At common law, terms may be implied in order to give the contract business efficacy, by reason… … Law dictionary
implied term — A provision of a contract not agreed to by the parties in words but either regarded by the courts as necessary to give effect to their presumed intentions or introduced into the contract by statute (as in the case of contracts for the sale of… … Big dictionary of business and management
implied term of fitness for purpose — See quality (implied term). Collins dictionary of law. W. J. Stewart. 2001 … Law dictionary
sample (sale by, implied term) — a contract of sale is a sale by sample where there is an express or implied term to that effect in the contract. Where there is a sale by sample there is an implied condition: (a) that the bulk will correspond with the sample in quality; (b) that … Law dictionary
description, implied term — where there is a contract for the sale of goods by description, there is an implied term that the goods will correspond with the description. If the sale is by sample as well as by description, it is not sufficient that the bulk of the goods… … Law dictionary
fitness for purpose, implied term — See quality (implied term). Collins dictionary of law. W. J. Stewart. 2001 … Law dictionary
fitness-for-purpose implied term — See quality (implied term). Collins dictionary of law. W. J. Stewart. 2001 … Law dictionary
term — The period of time during which a contract is in force. Bloomberg Financial Dictionary * * * ▪ I. term term 1 [tɜːm ǁ tɜːrm] noun 1. [countable] a word or expression that has a particular meaning, especially in a technical or scientific subject:… … Financial and business terms
implied contract — /ɪmˈplaɪd kɒntrækt/ (say im pluyd kontrakt) noun a contract not based on express words but arising from other circumstances. Also, implied promise, implied term … Australian English dictionary
Implied cause of action — is a term used in United States statutory and constitutional law for circumstances when a court will determine that a law that creates rights also allows private parties to bring a lawsuit, even though no such remedy is explicitly provided for in … Wikipedia