Which of the following statements regarding contractual terms is correct?

The statement that a term can be implied into a contract by custom is correct because it reflects a fundamental principle in contract law. Implied terms, including those based on custom or trade practice, serve to fill gaps in contracts where the parties may not have explicitly stated their intentions. Courts will often recognize and enforce these custom-based terms when they are well-established within a particular industry or region, thereby providing a degree of predictability and fairness in contractual relationships.

In this context, customs provide context and understanding for the parties involved, ensuring that the contract reflects the realities of how the parties typically operate. This is vital in maintaining the integrity of contractual agreements and allows the law to recognize terms that may not be written but are nonetheless vital to the parties' understanding and expectations.

The other choices revolve around misconceptions about contractual terms. While express terms do hold significant weight in contracts, they do not always override implied terms in every situation, especially when the implied terms are considered necessary for justice or fairness under the circumstances. Express terms do not have to be in writing; they can also be verbal or implied. Finally, standard forms of contract can indeed include express terms, rather than eliminate the need for them, as they are often designed to standardize certain elements while still allowing