Defining necessity: implied terms revisited
The Supreme Court has handed down judgment in Marks and Spencer plc v BNP Paribas Securities Services Trust Company (Jersey) Limited [2015] UKSC 71.
The case provided the court with a welcome opportunity to revisit and clarify the test for implied terms. Their Lordships have confirmed that the basic test remains that of strict necessity, and that that test was unchanged by Lord Hoffman’s speech in Attorney General of Belize v Belize Telecom Ltd [2009] 1 WLR 1988.
Read Rachel Tandy’s alerter here.
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