It's Implied.

What’s the point of that? I thought.

It’s OK if you are lawyer and know what’s in the statute but, if you’re not, it’s just making your life difficult. You have to locate the statute, find the relevant provisions, and mentally incorporate them into the contract.

Wouldn’t it be easier just to set out the relevant provisions so that they were just like any other clause?

OK, there may be occasions where incorporating by reference saves a lot of space, but usually it’s just a means to wrongfoot those that have not had legal training.

In contracts, it’s just better – and usually a lot simpler– to just say what you mean.

Why make business more complicated than it has to be?