What is the role of a contract lawyer in Singapore?

Posted by TheSingaporeLawyer on November 11th, 2020

The role of a contract lawyer in Singapore is to assist with business contracts. They may be specially educated or experienced in different areas of law and business. An experienced contract lawyer knows about the contracts, contract requirements, and rules governing contracts in their area.

Some contract lawyers practice tax contracts to help clients with property tax, international tax, and corporate tax. Other practices include employment contract lawyers, affiliate agreement lawyers, and subscription agreement lawyers.

What is a contract?

A contract is a legally required bond between two or more parties. It provides details of what the parties agree to perform or exchange. A contract may be in written or verbal form. In many cases, a contract must be in writing and signed by all parties involved in it. Courts require three things for a contract to be enforceable:

• Mutual consent to the contract terms;
• A valid offer and acceptance;
• And consideration.

Some examples of contracts include employment contracts, real estate purchase contracts, and insurance contracts. Contracts can be used any time parties want to document an agreement to ensure all parties’ rights are protected.

What are the components of a legal contract?

A contract lawyer in Singapore makes a contract for a legal purpose. For example, a person cannot contract to commit a crime. It is essential to be familiar with the requirements of a valid contract.

A valid contract must include:

• An offer;
• An acceptance of the proposal;
• A promise to perform;
• A valuable consideration;
• A date, or an event when the performance must be completed;
• Terms and conditions of the account; and
• Performance.

The offer and acceptance elements of a contract are known as the “meeting of minds” or mutual agreement of the parties. In some cases, contracts may have an closing period, where the offer is open for a reasonable time.

However, you can hire Mr. Jonathan Wong, who is an experienced contract lawyer in Singapore. Jonathan also specializes in giving free legal advice in Singapore in criminal laws, family laws, and more.

For a contract to be valid, consideration must be given. Consideration occurs when both parties acknowledge providing something valuable in exchange for a benefit. Consideration must be of value and can include money, a vehicle, or manual labor. Also, to make a contract valid, all parties must be legally competent. Contracts will be declared void if there is a mistake or fraud by one or more parties.

When is a contract not enforceable?

A contract may not be enforceable under some conditions. A minor or mentally incompetent individual cannot enter into a contract. It may not be enforceable if there is not proper consideration. Also, if there is a mistake or fraud by one or both parties, the contract will not be enforceable.

If you are looking for an experienced contract lawyer in Singapore, you can hire Mr. Jonathan Wong from the Singapore Lawyer, a reputed law firm in Singapore. Jonathan also specializes in giving free legal advice in Singapore for criminal cases, corporate laws, family laws, etc. Contact him today and get your queries solved.