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