GOV – What are ‘Covenants’?

Express Covenants:

Regulate the exact nature and scope of each party’s rights and obligations.

Implied Covenants:

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.