Sets out the modern contextual approach to contractual interpretation: meaning is ascertained by reference to what a reasonable person with the relevant background knowledge would understand the language to mean.
Contract — Formation and Interpretation
A 'no oral modification' clause is legally effective, so any purported oral variation of a contract containing such a clause is unenforceable.
Commercial common sense cannot be used to override the clear and unambiguous language of a contractual term when construing its meaning.
Implied terms require strict business necessity or obviousness, rejecting the broader 'reasonable and equitable' Belize Telecom formulation.
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