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Business Law
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1
Which of the following statements is false about the Small Claims Tribunal?
Decisions by the Registrar has the same legal status as court judgements
Claims must be filed within 2 years
Value of claims must not exceed $20,000 under all circumstances
Lawyers are not permitted to represent anyone
2
Which of the following is false?
Nature of terms can be classified into three categories of terms
Breach of a condition will result in the termination of the contract
When there is a breach of a condition, innocent part can only claim damages
Breach of warranty does not terminate the contract
3
John accepted Sam's offer and both agreed to send/receive letter of acceptance (LOA) by mail. Which statement is true?
Acceptance is completed immediately once the LOA is posted by John
Acceptance is completed once Sam confirms receipt of the LOA
The mail got lost in the postal system. Hence, the offer is deemed void
Acceptance is completed after Sam receives the LOA
4
Exclusion clauses will not be deemed void in a situation where the customer:
Faces major personal injuries arising from business party’s negligence
Faces property loss or damages arising from business party’s negligence
Has been given an incentive in the contract for the exclusion clause
Dies arising from business party’s negligence
5
Sean agreed not to snake his classmates. However, this is not considered a consideration due to which rule?
Consideration must move from the promisee
Past consideration is not good consideration
Consideration must be sufficient but need not be adequate
Consideration must be real
6
The Bill becomes the law after 3 readings and after the president gives his assent, which is the second reading?
The members of parliament vote on the Bill
The Members of Parliament debate on the Bill
A Member of Parliament introduces the Bill
The members of parliament discuss on the Bill
7
Signed Documents are deemed to have read, understood and agreed to the terms and conditions contained in the document.
True
False
8
When incorporated into a contract, exclusion clauses cannot be voided.
False
True
9
Is it true that only parties of the contract can sue or be sued at any circumstances?
False
True
10
Is it true that CRTPA allows a Third Party to enforce a contract?
False
True
11
John writes an IOU to Sam when he borrowed $500. It is stated that john will pay Sam back at a later date. What is it?
Contract
Agreement
12
Which of the following court(s) in Singapore hears appeals?
Small Claims Tribunals
Court of Appeal
COURTS Megastore Tampines
High Court
13
Which of the following court in Singapore only deals with civil cases?
Magistrate's Courts
Small Claims Tribunals
Court of Appeal
District Courts
14
How is implied terms different from expressed terms
implied terms have not been agreed to
Implied terms are written
Implied terms are communicated verbally
Implied terms have been agreed to
