LPAB Diploma In Law Practice Questions - Legal Profession Admission Board (NSW) Diploma In Law Examinations Exam

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A signed written contract for the sale of a business contains an entire agreement clause. The purchaser later argues a term should be implied to give the contract business efficacy. Under the orthodox test from BP Refinery (Westernport) v Shire of Hastings, which requirement must an implied term satisfy?

It must be inconsistent with the express terms but commercially convenient It must be so obvious that it goes without saying and necessary for business efficacy It need only be reasonable in the circumstances, regardless of obviousness It must have been discussed by the parties during negotiations

Correct Answer:

It must be so obvious that it goes without saying and necessary for business efficacy

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