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BU8301 BusinessLaw Lec4.pdf

by: biji0001 Notetaker

BU8301 BusinessLaw Lec4.pdf BU8301

biji0001 Notetaker

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Here are some tips for you to use my notes. 1) The main structure words are in boxes. 2) Important definitions are underlined 3) The corresponding law cases are listed accordinglyand underlin...
Introduction to Business Law in Singapore
Class Notes
BU8301 Business Law
25 ?




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This 2 page Class Notes was uploaded by biji0001 Notetaker on Tuesday March 1, 2016. The Class Notes belongs to BU8301 at Nanyang Technological University taught by in Summer 2015. Since its upload, it has received 169 views. For similar materials see Introduction to Business Law in Singapore in Business Administration at Nanyang Technological University.

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Date Created: 03/01/16
[TERMS] TERMS Express Terms Parol evidence rule: A written contract cannot be varied or contradicted by parol (extrinsic)evidence. Hawrish v Bank of Montreal (1969) Exceptions 1) fraud, misrepresentation 2) collateral contracts. In form of oral promises (or assurances) &consideration moves from (promise) when he enters into the main contract. 3) any separate oral agreement, written contract is silent & not inconsistent with its terms; Implied Terms Terms may be implied by: i) courts • The business efficacy test • The officious bystander test ii) statutes Sale of Goods Act, it is an implied condition of iii) custom there’s a long-standing, well established and reasonable custom Hutton v Warren (1836) When can terminate the contract for breach? RDC Concrete Pte Ltd v Sato Kogyo Pte Ltd (2007) 1) contract clearly so provides 2) guilty party renounces the contract 3) breached of a condition; 4) consequences of the breach are such as to deprive the innocent party……… Exemption Clauses 1) Incorporated It forms part of the contract between the parties in one of the below; i) By signed document; ii) By reasonable notice; 1) reasonably regarded as a contractual document. 2) Reasonable sufficiency conspicuous and legible of 3) before or at the time the contract is made. iii) Previous course of dealing 1) previously entered into contracts with EC 2) already indicated that the present contract would be bound by the earlier one; 2) Properly constructed i) covers the loss in question; ii) If not clear or ambiguous, “contra proferentem rule 3) No unusual factors (e.g. fraud or misrepresentation) which prevent its operation; 4) Not violate UCTA (Unfair Contract Terms Act). a) s2(1) excludes liability for death or personal injury caused by negligence of theperson who seeks to rely on the exemption clause b) s2(2) other losses (loss of/ damage to property), need satisfy: The requirements of reasonableness i) bargaining strength ii) Whether received an inducement to agree to the exemption clause; iii) Whether knew or ought to know about the exemption clause; iv) Whether compliance with the exemption clause is practicable; v) Whether the goods were specially ordered. c) s3 The Act applies to EC not only in tort but also in contract d) The Act does not apply insurance, creation/transfer of interest in land/intellectual property/securities. [TERMS]


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