Notes of Commercial Law

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Notes of Commercial Law

Contracts (C3, pg 58)

|Nature of contract |- Legal relationship consisting of the right and promises constituting an agreement between the parties that give each party a legal |
| |duty to the other and also the right to seek for breach of those duties |
| |- Consensus ad idem (meeting of minds); what the parties agree on must be clear and unambiguous and parties must be ad idem. |
| |Wellmix Organics (International) Pte Ltd v Lau Yu Man (2006) , |
| |T2 Networks Pte Ltd v Nasioncom Sdn Bhd (2008) |
|Types of Contracts | Oral contracts |
| |Written contract provides evidence of the parties’ contractual obligations. |
| |Forefront Medical Technology (Pte) Ltd v Modern-Pak Pte Ltd (2006) |
| |Parol evidence rule = oral evidence not admissible to add to, vary, amend or contradict written contract s 93-94 Evidence Act (refer |
| |to Terms) |
| |Engelin Teh Practice LLC v Wee Soon Kim Anthony (2004) |

1. Offer (C3, pg 63)

|As the expression to another of a willingness to be bound by stated terms. |
|Invitation to treat (pg 64)

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