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A business contract is an agreement between two or more parties in which each agrees to an exchange of money, commodities, or services. By confining commitments to writing, business contracts protect both buyers and sellers. The contract can be as long or as short as necessary to cover all of the key contract details.
A Joint Venture Agreement is an agreement between two businesses or individuals to collaborate in order to achieve a common aim. Details such as venture members, member roles, venture goals, and the start and finish dates should all be included in a finished Joint Venture agreement.
A licensing agreement is a legally binding agreement between the licensor and the licensee. The licensor typically grants the licensee the right to make and sell items, utilize a brand name or trademark, or use patented technology controlled by the licensor under a normal licensing agreement.
A Power of Attorney is an instrument or document that facilitate the Donee (the person who receives the power) as attorney of the Donor (the person who gives power) and grant the Donee particular powers for a specific purpose. In the Power of Attorney instrument, the appointment of the Donee will be specified in details
A written contract between a seller and a buyer for the purchase and selling of a specific property is known as an Agreement of Purchase and Sale. The buyer agrees to buy the property for a specified price if a number of terms and conditions are met.
The procedure starts when the buyer makes an irreversible offer for a set length of time. If no counter-offers are made, the Agreement becomes legally enforceable if the seller accepts the offer within the time frame stipulated by the buyer. The Agreement cannot be terminated at this point unless both the buyer and the seller agree.
A shareholder agreement is a document that outlines the consequences and actions that will be taken in the event that a shareholder leaves the company, whether voluntarily or unwillingly, or if the firm ceases to trade or operation.
Will is a legal document whereby an appointed legal representative will execute the wishes of the will’s owner about who will inherit his or her property and assets after they pass away.
Trust is another similar document to will but it became effective immediately whenever the representative executes the trust on behalf the trust’s owner.
Real Estate Law
After signing of Letter of Offer, a Financier solicitor is appointed to prepare loan documentation for the borrower to sign in order to secure the interests of bank. The loan documentation includes Facilities Agreement, Charge Document, Deed of Assignment and Power of Attorney.
A lease is an implicit or written agreement that specifies the terms under which a lessor agrees to let a lessee use a property. The arrangement guarantees the lessee access to the property for a set amount of time, while the owner receives constant payment during that time.
A Memorandum of Transfer (MOT) is a legal document that documents the transfer of ownership of a property for the amount agreed upon by the buyer and seller. It is used to transfer property ownership from the developer to the buyer, or to transfer property ownership from the seller to the buyer in the event of secondary market acquisitions.
A legally binding contract between you and the seller is a sale and purchase agreement. It outlines all of the sale’s information, terms, and conditions, including the price, any chattels sold with the property, if the buyer must first sell another property, and the settlement date.
A tenancy agreement is an agreement between a landlord and a tenant that governs their relationship. It spells forth each party’s responsibilities and obligations throughout the lease. It also includes a full description of the rental home, including its furnishings, fixtures, and other features.
If you stay over the end of the set term without signing a renewal agreement, your tenancy will automatically become a periodic lease. Unless a new agreement is in place, a shared tenancy becomes periodic if any of the tenants remain. A periodic tenancy continues on the same conditions as a regular tenancy, and you should continue to pay your rent as usual.
For non-Muslims, application to adopt a child may be made under Adoption Act 1952. The court will consider welfare of the child to determine whether it would be the best interest of the child to be adopted by the applicant.
Child custody is a legal phrase used to characterize the legal and practical connection that exists between a parent or guardian and the child under their care. Legal custody refers to the right to make choices regarding the child, whereas physical custody refers to the right and responsibility to home, provide for, and care for the child.
The executors specified in the will receive a grant of probate, whereas the next of kin of someone who died without a will receive a grant of letters of administration.
The process of ending a marriage or marital partnership is known as divorce. Divorce typically means the cancellation or reorganization of the legal duties and responsibilities of marriage, thus severing the bonds of matrimony between a married couple under the law of the nation or state in question.
Generally, there are two types of divorce for non-Muslims, which are Joint Petition Divorce and Single Petition Divorce.
Joint Petition Divorce (s.52 Law Reform (Marriage & Divorce) Act 1950)
Joint Petition means both husband and wife (have been married for at least 2 years) mutually agree to divorce together with the terms of the divorce such as the custody of the children, maintenance of the wife and child, distributions of the matrimonial properties etc. All terms agreed upon by both parties would then be in the Joint Petition which would be signed by both parties and filed to the High Court.
Single Petition Divorce (s.50 Law Reform (Marriage & Divorce) Act 1950)
Another type of divorce is the Single Petition divorce, or you may call it the contested divorce. Single Petition means when the term of the divorce is not agreed upon by both parties (contested) unlike Joint Petition where both parties agreed to all the terms of divorce. However, for Single Petition, either party may file without the consent of parties. The requirements to file for a Single Petition can be found in s.50 of the act in order words, one can only file for Single Petition after 2 years of marriage and according to s.53 of the act.
The accident claim is claim-able from an insurance provider or a person who caused damages or injury to you during a car accident. The accident claims or compensations are usually measure in monetary term.
Arbitration is an official procedure in which one or more arbitrators are agreed to negotiate the disagreement and resolve the dispute prior the disagreement goes to the court.
Breach of contract is a legal cause of action and a sort of civil wrong in which one or more parties to a contract fail to fulfil a contractual agreement or bargained-for exchange by failing to fulfil or interfering with the other party’s performance.
Civil litigation is a legal process in which there are no criminal accusations or punishments involved. When two or more parties become involved in a non-criminal legal dispute, the matter is heard in court, with plaintiffs seeking compensation or other damages from defendants.
Debt recovery is a service whereby creditor appoints third party in collecting an unpaid or long overdue loan or outstanding balance on behalf.
Debt Recovery Process in Malaysia
It is very normal to owe someone even your close friends, relatives, or sibling’s money. We would often hear promises before one would ask you to borrow them money (eh can borrow money arh? I pay you tomorrow confirm!!) Deep in your heart you know he would not pay by tomorrow, but you would still lend him the money. As times goes by, after months and years he has no response to your messages and ignore your calls. Definitely, you would want to recover your money (worst still huge five figures amount). You would think what are the ways to recover your money? How long will the process take? What if he has no money to pay me back but he has a new car? Don’t worry, I would cover all your concerns shortly.
What do I mean by Debt Recovery? Of course, I am talking about the legit ways to recover or collect monies owed by a person / company (Not the Ah Long ways…get it!!) Debt recovery in simple terms means initiating legal action to recover debts / monies from individual / company if they refuse or delay payment of debt.
Defamation (also known as calumny, vilification, libel, slander, or traducement) is the unfairly harming of another’s reputation by the oral or written conveyance of a false allegation about them. It is generally a tort or criminal.
The branch of law that controls the employer-employee relationship is known as employment law. This domain encompasses both state and federal legislation and covers a wide range of topics with the common purpose of safeguarding workers’ rights.
A “land dispute” is a quarrel between two or more parties over land rights that is centered on a specific piece of land and may be resolved within the current legal system. Land conflicts may or may not be indicative of a larger land war.
Property damage is described as harm done to someone’s property as a consequence of someone else’s carelessness, purposeful destruction of that person’s property, or a natural disaster. Flooding induced by a storm is an example of natural disaster property damage.
When a tenant or landlord violates the lease agreement, either party can file a civil lawsuit to pursue the sanctions set forth in the leasing agreement. Breach of a tenancy agreement is a civil, not a criminal offence.