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Contract law in Tanjong Pagar, a prominent neighborhood in central Singapore, principally revolves around the principles prescribed in the common law system. Contracts are legally binding agreements that are enforceable by law and should any disputes arise, they are settled by the legal provisions of the Singapore Contract Law, providing that the agreements are legal and not against public policy.
Legal assistance may be paramount in several situations involving contracts. This may include; drafting a legally securing contract, negotiating complex provisions in a contract, dealing with a breach of contract, or when legal issues arise related to a contract's enforceability. In these scenarios, a lawyer can help you understand your rights, represent your interests, and guide you throughout the potential legal complexities.
The key aspects of contract law in Singapore are largely derived from English Common Law, encompassing essential contract components such as offer, acceptance, consideration, and intention to create legal relations. Singapore Contract Law insists on explicit consent, legality of object, and capacity to contract. Also, it outlines rectifications, remedies, and rules related to the termination of contracts. Breach of contract and related penalties are also well-detailed in local law.
A breach of contract occurs when a party fails to fulfill their contractual obligations, which could be either through non-performance, inadequate performance, or illegal conduct.
Several remedies are available for a breach of contract, including damages (monetary compensation), specific performance (forcing the other party to fulfill the promises made), or rescission (cancellation) of the contract.
While certain contracts such as property transfer must be in writing as per the Law of Property Act, many contracts, including oral contracts, can be enforceable, provided they fulfil all aspects of a legally binding contract.
Contracts can be terminated by mutual agreement, fulfillment of contractual obligations, or due to the breach of contract by the other party. Certain conditions and legal implications may apply.
Yes, if a party breaches a contract, the injured party has a right to sue for damages. The amount of damages largely depends on the loss encountered due to the breach.
You can contact local governmental bodies like the Ministry of Law, or organizations such as the Law Society of Singapore, for additional resources and guidance. The State Courts' website and the Supreme Court Library have vast resources for your quest in contractual knowledge.
If you require legal help in matters of Contract Law, your first step should be to consult with a lawyer experienced in contract law. Prepare all relevant documents, highlight your concerns, and discuss your situation in detail. A good lawyer will guide you through your legal rights, potential complications, and the best course of action for your circumstances.
