Contract Law In Malaysia, our contract law is basically governed and enforced by the Contract Act 1950. The remedy of specific performance presupposes the existence of a valid contract between the parties to the controversy. The terms of the contract must be definite and certain.
Business Law in Malaysia: Contract Law.
DAMAGES The award of damages is the common law remedy for a breach of contract. The purpose of damages: to compensate the victim for the loss that caused him by the breach of contract.One of the clauses in the construction contract agreements is regarding force majeure. This clause (or sub-clause) should be defined clearly in order to get its true scope of coverage. The said clause, in several events, may be used successfully to all parties in the contract in order to avoid liabilities relating to the breach of contract.The law of Malaysia is mainly based on the common law legal system. This was a direct result of the colonisation of Malaya, Sarawak, and North Borneo by Britain between the early 19th century to 1960s. The supreme law of the land—the Constitution of Malaysia—sets out the legal framework and rights of Malaysian citizens.
Under Malaysian law, a written signature is not necessarily required for a valid contract - contracts are generally valid if legally competent parties reach an agreement, whether they agree verbally, electronically or in a physical paper document (The Contracts Act 1950 and applicable common law).In Malaysia, the law does recognize that employers do have the right to hire the employees the select on a fixed term contract basis, provided that there is a genuine need to do so. One very important condition which a fixed term contract needs to abide by is that it has to be a genuine contract.
