What does an implied term of a contract mean? What are the conditions for a term to be implied in a contract, as pronounced by the Privy Council in B P Refinery (Westernport) Pty Ltd v President, Councillors and Ratepayers of the Shire of Hastings (1978) 52 ALJR 20? In other words, when does the law recognise that a term is implied and therefore legally enforceable? How can a term be implied in a contract?

Task: Answer the above questions. Your discussion must primarily focus on B P Refinery (Westernport) Pty Ltd v President, Councillors and Ratepayers of the Shire of Hastings(1978) 52 ALJR 20; however, you are also required to refer to other principles from case law and statutory provisions, where relevant, to substantiate your answers. It will be better if we write Introduction, discussion and conclusion.