Implied Term By Fact

Business, Legal & Accounting Glossary

Definition: Implied Term By Fact




Full Definition of Implied Term By Fact


An Implied term in a contract that arises because the contract simply would not work otherwise. The leading case is The moorcock (1889) which formulated the ‘business efficacy’ test: a term will be implied if the contract would have no value without it.


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https://payrollheaven.com/define/implied-term-by-fact/
Modern Language Association (MLA):
Implied Term By Fact. PayrollHeaven.com. Payroll & Accounting Heaven Ltd. September 20, 2021 https://payrollheaven.com/define/implied-term-by-fact/.
Chicago Manual of Style (CMS):
Implied Term By Fact. PayrollHeaven.com. Payroll & Accounting Heaven Ltd. https://payrollheaven.com/define/implied-term-by-fact/ (accessed: September 20, 2021).
American Psychological Association (APA):
Implied Term By Fact. PayrollHeaven.com. Retrieved September 20, 2021, from PayrollHeaven.com website: https://payrollheaven.com/define/implied-term-by-fact/

Definition Sources


Definitions for Implied Term By Fact are sourced/syndicated and enhanced from:

  • A Dictionary of Economics (Oxford Quick Reference)
  • Oxford Dictionary Of Accounting
  • Oxford Dictionary Of Business & Management

This glossary post was last updated: 6th April, 2020 | 2 Views.