Commercial Law

What is the definition of law?

It is the set of rights and obligations by which a community regulates it affairs.

What is the nature of business?

* Business is the art of providing goods and services with a view to making a profit

* A business has to deal with (a) Suppliers and (b) Customers

* It has to manage (c) Employees and compete with (d) Competitors

* It must also abide by government (e) Regulations such as paying taxes to environmental law

Source of law in Singapore:

Two major sources

(a) Legislation

* Statues or acts made by parliament

* E.g. Penal Code, Employment Act, Copyright Act, etc

(b) Case law or Common law

Criminal Proceedings

* To punish the perpetrator of the crime

* To deter others from committing the same crime

Civil Proceedings

* To seek remedy for a private wrong

| Criminal Proceedings | Civil Proceedings |

Parties | Public Prosecutor prosecutes the defendant | Plaintiff (Claimant) sues the defendant |

Decision of the Court | Guilty or not guilty | Liable or not liable |

Burden of Proof | Placed on the prosecution | Placed on the Claimant/Plaintiff |

Standard of Proof | The prosecution must prove the defendant’s guilt (beyond reasonable doubt) | The claimant must prove his case on a balance of probabilities (win or lose) |

Sanctions | Jail sentence, fine, caning, others | Damages, injunctions (stop), specific performance (enforce), others |

Acts of parliament are called statutes.

The legislature is the main law making body in Singapore. The Singapore legislature comprises the president and parliament.

Interpretation of Statutes - When considering the meaning of the statues, the courts are guided by four approaches.

Literal Rule

* Words in a statute which are not ambiguous are given their ordinary, literal meaning. (even if this leads to a decision which is unjust or undesirable)

* Inland Revenue Commissioners IV Hinchy (1960)

Golden Rule

* The...