Business Law

TABLE OF CONTENTS

QUESTION 1

Diagram of the Courts Structure 4

Summary of the Courts Structure 5 - 6

QUESTION 2

Diagram of the legal steps involved in forming a Sole Proprietorship 7

Process in forming a Sole Proprietorship 8

Advantages & Disadvantages of Sole Proprietorship 9

Diagram of the legal steps involved in forming a Partnership 10

Process in forming a Partnership 11

Advantages & Disadvantages of Partnership 12 - 13

Diagram of the legal steps involved in forming a Limited Liability Company 14

Process in forming a Limited Liability Company 15

Advantages & Disadvantages of Limited Liability Company 16

Business we chose to do

QUESTION 3 17

An example of a newspaper advertisement that is an Offer 18

An example of a newspaper advertisement that is in Invitation to Treat 19

An example of a newspaper advertisement that is a Tender Notice 20

An example of a newspaper advertisement that is a Notice 21

Our group own example of an advertisement that is an Offer 22

Our group own example of an advertisement that is an Invitation to Treat 23

References 24

Declaration 25

QUESTION 1 (DIAGRAM OF THE COURTS STRUCTURE)

QUESTION 1 (SUMMARY OF THE COURTS STRUCTURE)

The Supreme Court comprises of the High Court and Court of Appeal. The Court of Appeal exercises both a civil and criminal jurisdiction. In a practice statement issued in 1994, the Court of Appeal will no longer be bound by Stare Decisis.

Within the Supreme Court, the High Court and the Court of Appeal have different jurisdictions. Court of Appeal exercises appellate jurisdiction, hearing appeals from the High Court. The High Court has jurisdication to hear both civil and criminal cases at first instance.

A civil claim has to be initiated in the High Court if the claim is above $250,000. Criminical offences which are punishable by death or jailed above 10 years is also tried at the High Court.

The High Court also has an appellate jurisdiction to hear civil and criminal appeals from the Subordinate Court, with District Court and Magistrates Court inclusive. The Admiralty Court is established as the first specialist commercial courts within the Supreme Court, which signals the determination of the Supreme Court to be a leading commercial dispute resolution centre in the region.

Within the Subordinate Courts, the District Courts has the widest jurisdiction - both civil and criminal jurisdication. Its civil jurisdiction hear cases involving up to $250,000. In criminal matters, the District Court tries cases where the maximum punishment does not exceed 10 years; jail or at most is a fine only.

The Magistrates' Court also has civil and criminal jurisdiction where the criminal jurisdiction tries cases where the maximum punishment does not exceed three years' jail or is a fine only. Civil jurisdiction is similar to District Court but its monetary limit is $60,000.

The Juvenile Court has juridiction over cases involving juveniles - a "child" 14 years or above but below 16 years of age. The court attempts to deal with juveniles using a communitarian justice model with a view towards reform and rehabilitation instead of penal sanctions.

The Coroners' Court has jurisdiction and powers conferred to determine the cause and circumstances of death in cases where a person dies in an unnatural manner, by violence or some unknown causes.

The Family Court hears applications concerning adoptions, maintenance, protection orders against spousal violence and other associated matters. It is given the jurisdiction to hear divorce cases and custody and divisional of matrimonial assets.

The Syariah Court is a separate court system to hear disputes on specific matters involving Muslims - designated to handle matters such as divorce, maintenance, child custody and property inheritance among Muslims. Decision of the Syariah Court and the Appeal Board are otherwise final and cannot be reviewed by the civil courts.

DIAGRAM OF THE LEGAL STEPS INVOLVED IN FORMING A SOLE PROPRIETORSHIP

PROCESS OF FORMING A SOLE PROPRIETORSHIP

Sole proprietorship is a legal business firm set up and owned only by one person or company, with no partners involved. As such, the sole proprietor has absolute decision and control in the running of the business.

Before a new Sole Proprietorship can be registered, the self-employed individual have to ensure his/her own personal Medisave account is up-to-date with Central Provident Fund (CPF).

Getting started on registering the business, applications can be submitted online via BizFile - ACRA's electronic filing and information retrieval system, together with required business information e.g. Proposed Business Name, Date of Commencement of Business, Activity Code, Place of Business etc. Depending on nature of business, additional approvals from other authorities may be required before the completion of registration.

Following so, the owner is required to complete details (owner/manager/nominee/trustee) - NRIC number of owner/manager, email address, contact number and ending off with the Declaration Page.

Before making payment of $65 ($50 registration fee and $15 name approval fee), the application has to be reviewed and checked upon before proceeding.

The new registration slip shown after registration fee is paid acknowledges the successful registration, and is required to be printed out.

ADVANTAGES & DISADVANTAGES OF A SOLE PROPRIETORSHIP

Advantages