Implied Terms

Question 1

A term that is not actually in the contract.

Answer 1

Implied Terms

Question 2

Is founded upon a meeting of minds, which, although not embodied in an express contract, is inferred, as a fact, from conduct of the parties showing, in the light of the surrounding circumstances, their tacit understanding.

Answer 2

Implied in fact

Question 3

Is a legal fiction under which the term is imputed into the contract regardless of whether the parties actually intended to include that term.

Answer 3

Implied in law

Question 4

Interpretation of the terms of an agreement is not limited to the _______ _____.

Answer 4

explicit words

Question 5

If an agreement, in its entirety, implies the existence of a term not _______ __ __, then the term is part of the contract.

Answer 5

explicitly in it

Question 6

A term is _______ if the agreement cannot be understood to effect the parties’ purposes without that term.

Answer 6

implied

Question 7

Where a contract will lack business efficacy absent an implied term of using reasonable efforts, such a term is _______ into the contract.

Answer 7

implied