What is Singapore contract law?
Singapore’s contract law follows that of common law countries, where a contract is an agreement created through an “offer” and an “acceptance” between two or more parties with the legal capacity to exchange “consideration” to create a legal obligation between them.
What makes a contract legally binding Singapore?
For the contract to be legally binding, several requirements must be fulfilled: A meeting of the minds between the parties, manifested through offer and acceptance; Parties must have a capacity to contract; and. The parties must freely consent to the agreement.
How do I prove a breach of contract in Singapore?
Two other elements must be satisfied for a failure to perform to constitute “breach of contract”:
- The defaulting party must have failed to perform a contractual obligation.
- There must be no lawful excuse for the defaulting party’s failure to perform.
Is contract law a civil law?
In the civil law tradition, contract law is a branch of the law of obligations. Each country recognised by private international law has its own national system of law to govern contracts. Although systems of contract law might have similarities, they may contain significant differences.
What happens if someone breaches a contract?
Under the law, once a contract is breached, the guilty party must remedy the breach. The primary solutions are damages, specific performance, or contract cancellation and restitution. Compensatory damages: The goal with compensatory damages is to make the non-breaching party whole as if the breach never happened.
What are the 4 requirements of a contract?
The complaining party must prove four elements to show that a contract existed. These elements are offer, consideration, acceptance, and mutuality.
Is a breach of contract a crime?
Breach of contract is not a crime or even a tort. Punitive damages are generally not an available remedy. The only remedies are to make the non-breaching party whole. The main theory behind this rule is that the law should not punish economically efficient breach.
Which is the first contract law casebook in Singapore?
SAL-e. Contract Law in Singapore : Cases, Materials and Commentary This is the first contract law casebook which compiles extracts from the judgements of the Singapore courts, as well as excerpts from relevant Singapore statutes.
What does it mean to have a contract in Singapore?
If you plan on opening a business here, our law firm in Singapore can provide you with consultancy. As stated by the contract law in Singapore, a contract is an agreement document between two (or more) parties, whose rights and obligations are stipulated in the contract.
Who are the professors of contract law in Singapore?
Dr Burton Ong is an Associate Professor at the National University of Singapore’s Faculty of Law, where he is the convener for the Law of Contract module, a first-year compulsory module in the faculty’s core curriculum. Apart from contract law, he also teaches and researches in the areas of competition law and intellectual property law.
Are there any English commercial statutes in Singapore?
Many of these statutes are English in origin. To begin with, 13 English commercial statutes have been incorporated as part of the Statutes of the Republic of Singapore by virtue of s 4 of the Application of English Law Act (Cap 7A, 1993 Rev Ed). These are listed in Part II of the First Schedule of this Act.