A Court Will Find an Implied Term

question 45

Multiple Choice

A court will find an implied term

• A)when it is necessary to bring the contract in accordance with the objectively reasonable intentions of the parties.
• B)in order to rewrite the contract so that it is a better deal.
• C)only if the parties had expressed it but forgot to write it down.
• D)only if a statute tells it to do so.
• E)whenever it wants and whatever term the court thinks would be useful.

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Definitions:

Prepaid Items

This term describes expenses paid in advance for goods or services to be received in the future, such as insurance or rent.

Accrued Interest

The interest that has been earned but not yet paid, accumulating on loans or bonds over a period of time.

Prepaid Insurance

A type of prepaid item representing insurance coverage paid for upfront before the coverage period begins.

Office Supplies

Office supplies include items used in offices on a regular basis for tasks or maintenance, like paper, pens, and cleaning products.