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January 7, 2016

For a number of years, the key decision as to when terms may be implied into a contract has been the Privy Council opinion in Attorney General of Belize and Others v Belize Telecom Ltd and Another1 (“Belize”). The opinion of the Supreme Court in Marks and Spencer plc v BNP Paribas Securities Service Trust Co (Jersey) Ltd and Another2 (“M&S”) has revisited and largely reversed Belize.

 

The Facts of M&S

 

Marks and Spencer were the tenant and BNP Paribas the landlord under four commercial leases. Th...

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