BSP 1004 Cheat Sheet
Introduction to Business Law in Singapore (Fifth Edition)
Answering Law Questions:
Identify issue
:
“The issue is whether…. given that…”
Legal principles
:
“According to… (e.g Companies Act Section 13)”
Applying:
“On the facts, …”
Conclusion:
“In conclusion…”
Note: Remember to scrutinize every point, even the smaller details as they
can be points of contention
Chapter 1: Introduction to Law
Mainly discusses:
1)
Law in Singapore
(Pg 3)
2)
Criminal and Civil Law
(Pg 6)
3)
Methods of Resolving Civil Dispute
(Pg 9)
4)
Methods of Resolving Civil Judgement (after judgement has been
made)
(Pg 16)
Law in Singapore
(Pg 3)
Pg 3:
Sources of Law in Singapore:
1)
Legislation
2)
Case/Common Law
Criminal and Civil Law
(
Pg 6)
Pg 8:
Differences (table) between civil criminal and civil proceedings
Methods of Resolving Civil Disputes
(Pg 9)
5 methods:
1)
Negotiation (
Pg 9
, not covered in detail)
2)
Litigation
(Pg 9)
State Courts: for small sums
High Court: for sums above $250,000
Advantages and disadvantages
Note: Time limits
3)
Mediation
(Pg 11)
Singapore Mediation Centre: not free and choose mediator
Primary Dispute Resolution Centre: free and cannot choose
mediator
Advantages and disadvantages
4)
Arbitration
(Pg 13)
Singapore International Arbitration Centre
Usually only gone for if pre-agreed in contract
Advantages and disadvantages
5)
Small Claims Tribunal
(Pg 15)
For cheaper amounts, alternative to litigation
For 3 types of specific claims
(Pg 15)
Monetary limit: $10,000, or $20,000 if parties agree
Methods of Resolving Civil Judgements
(Pg 16)
Pg 17:
Bankruptcy
-
Conditions to file for bankruptcy (
Pg 17
)
-
Exempted assets (
Pg 18
)
-
Bankruptcy Restrictions (
Pg 18
)
-
Ways a bankruptcy order may end
(Pg 19
)
Other options (
Pg 19
)
1)
Voluntary Agreement (
Pg 19
)
2)
Debt Repayment Scheme (
Pg 19
)
3)
Writ of seizure and sale (
Pg 20
)
4)
Garnishee Order (
Pg 20
)
5)
Appointment of Receiver (
Pg 20
)
Chapter 10: Law Relating to Business Organizations
Mainly discusses:
1)
Sole Proprietorship
(Pg 224)
2)
Partnership
(Pg 227)
3)
Companies
(Pg 240)
4)
Limited Liability Partnership
(Pg 248)
5)
Limited Partnership
(Pg 250)
Pg 223
: Incorporated (separate legal entity) & Unincorporated
Sole Proprietorship
(Pg 224)
Business Names Registration Act
Pg 224 – 225:
Registration in General (Process and Effects of Non-
Registration)
Pg 226:
Evaluation (advantages and disadvantages)
Partnership
(Pg 227)
Partnership Act
A relationship that subsists between persons carrying on business in
common view of profit
(section 1)
When is there a partnership?
(Pg 227)
Jointly owning property, sharing of gross profits, and net profits not
indicative that there is a partnership.
Formalities
(Pg 228)
No requirement for written agreement. Again, need to be registered under
Business Names Registration Act.
Min. No.: 2
Max. No.: 20 (except accountants and lawyers)
Relationship between Partners and Outsiders
(Pg 229)
1)
Partner’s liability for actions of other partners
(Pg 229)
Actual, implied (section 5) and apparent authority
Implied Authority:
Mercantile Credit Co Ltd v Garrot
(1962
) (Pg 230)
(even
though partnership did not state one partner was able to sell cars, it was
determined partners have implied authority to sell goods)
