Commercial – Contract Law (For Non-Legal Professionals)$428.00
About this course
The business environment is full of agreements between businesses and individuals. While oral agreements can be used, most businesses use formal written contracts when engaging in operations. Written contracts provide individuals and businesses with a legal document stating the expectations of both parties and how negative situations will be resolved. Contracts also are legally enforceable in a court of law. Contracts often represent a tool that companies use to safeguard your resources!
The objective(s) of this course is to provide clear understanding on commercial contract law, the application and the aspects of the Singapore contract law for non- Legal professionals.
- Definition of ‘offer’ and ‘acceptance’.
- Definition of an objective ascertained intention to be bound.
- How offer may be terminated by various ways of withdrawal prior to acceptance.
- Definition of ‘acceptance’,
- Acceptance communication to offeror and certainty.
- Completeness of an enforceable contract.
- General understanding of the Electronic Transaction Act (‘ETA’) and its application.
- The definition of ‘consideration’.
- When does the promissory estoppel applies.
- The necessity and the intention of creating legal relationship and what is the presumption of intention to be legally bound in a commercial arrangement.
- Terms of the contract.
- Distinction between term or representation.
- Implied terms, classification of terms and exception clauses.
- Unfair contract terms and the unfair contract terms act.
- Contract with minors, minors’ contract act.
- The third party enforcement of contract rights and its application.