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Express terms are material terms stated by the parties involved, and can be interpreted in 3 ways; Oral, Written, Oral and Written.
Implied terms are terms normally not stated or not known by the parties, and may be derived from Custom/Usage, Court, or Statute. Custom terms are referenced to conventions or usages in a particular industry or trade. Court terms are adopted when an oversight of the parties occur, in order to give ?business efficacy' to the contract based on prior or past dealings. Statute terms are referred to the various states, territories and Commonwealth Trade Practices Act when the contract is formed...
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