What is the ratio in Marks and Spencer v BNP Paribas Securities?

Terms can only be implied into contracts if they meet strict criteria including being necessary for business efficacy and so obvious as 'to go without saying'.

What did the court decide in Marks and Spencer v BNP Paribas Securities?

The Supreme Court refused to imply a term requiring rent refunds on early lease termination, taking a restrictive approach to implying contractual terms.

Why is Marks and Spencer v BNP Paribas Securities important for contract law?

It established the modern restrictive test for implied terms, emphasising judicial restraint and high thresholds of necessity and obviousness before courts will imply terms.

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