Regulate the exact nature and scope of each party’s rights and obligations.
These apply only so far as a Lease fails to expressly provide for a matter but the implication on entering the contract is that a right or obligation exists.
Statutorily implied Covenants:
Usually override the terms of the Lease, the main principle being that statute overrides contract. Laws passed by Parliament and entered onto the statute from the basis of statutorily implied covenants.