Reading Time: 6 minutesWhat could happen to your wealth and assets if your marriage goes south? What if your spouse is instrumental in preserving your wealth? What happens to shares gifted by your father that are now worth S$11.7 million? Would you try to delay the inevitable and dangle the transfer of interest in a property to get […]
Reading Time: 6 minutes Introduction Suppose Adam agrees verbally to purchase oranges from a supplier, Ben, for Adam’s business. Adam finds out the very next day that another supplier, Cindy, can provide those oranges at a lower cost. Being a shrewd businessman, Adam no longer wishes to purchase them from Ben. He calls up Ben to inform him of […]
Reading Time: 6 minutesIntroduction Electronic communications are omnipresent. Apart from texting our friends via apps like Telegram or WhatsApp, and discussing work through emails, we also transact using electronic means – for example, by buying items off Taobao, Shopee, or Lazada, just one of the many e-commerce platforms available. This article discusses whether agreements formed over messaging apps […]
Reading Time: 6 minutesGV Lawyers would like to introduce the legal article of Mr. Tran Thanh Tung, a Partner of GV Lawyers titled “M&A transactions: Noteworthy points when the legal framework changes” published on Saigon Times dated 20 January 2021. (TBKTSG Online) – As opposed to the Competition Law 2004, there has been a major change in the […]
Reading Time: 6 minutesIntroduction You may have been asked to sign a letter of guarantee before. Simply put, a letter of guarantee is a promise to pay another person’s debt if he or she is unable to do so. However, being a guarantor can certainly be risky, especially when the debt is significant. So the question is: should […]
Reading Time: 6 minutesI. Introduction Business negotiations can be lengthy. In the course of negotiations, parties might make a verbal promise to do or not do something. There might also be emails recording the promise or showing that there were verbal negotiations. But if the promise does not end up in a written contract, can you hold the other […]
Reading Time: 5 minutesThis article is co-written by Ms. Danna Er and Ms. Nur Liyana Kamaludin. I. Introduction In Far East Square Pte Ltd v Yau Lee Construction (Singapore) Pte Ltd [2019] SGCA 36 (“Far East Square”), the Court of Appeal held that a payment claim submitted after the issuance of the architect’s Final Certificate would be invalid regardless […]
Reading Time: 4 minutesWhat are indemnity provisions? Indemnity provisions, also known as “indemnities” or “indemnity clauses”, are commonly included in contracts to allocate risk between contracting parties. If properly included, the indemnifying party (the “indemnifier”) will be obliged to compensate the indemnified party for losses which may occur as a result of a specified event, sometimes referred to […]
Reading Time: 10 minutes I. Introduction The recent UK Supreme Court’s (“UKSC”) decision in Rock Advertising Limited v MWB Business Exchange Centres Limited was highly anticipated. Modern litigation rarely raises new fundamental issues in the law of contract; this case, however, dealt with two.[1] Moreover, the preceding Court of Appeal (“COA”) judgement had left the law relating […]
Reading Time: 14 minutesIntroduction Where a contract is illegal, the contract is void and the courts will not enforce the contract.[1] Despite the simplicity of the foregoing logic, the concept of illegality in contract law – often used as a defence mechanism in lawsuits – has long vexed students and practitioners alike. As Lady Justice Gloster in Patel v […]
Reading Time: 20 minutesI. Introduction Under the seminal House of Lords decision of Banque Financiere de la Cite v Parc (Battersea), a claimant can make a claim in unjust enrichment if the following elements are shown:[1] The defendant has been enriched; The enrichment was at the claimant’s expense; The enrichment was unjust; and There are no defences. The […]
Reading Time: 5 minutesIntroduction The Court of First Instance analysed whether a clause within a joint venture agreement between a company in liquidation and an interested party should be void for being classified as “disposition” under section 182 of the Companies (Winding Up and Miscellaneous Provisions) Ordinance (Cap 32). Build King Construction Ltd (“BK”) formed a joint venture […]
