Due to its colonial history singapores contract law is based on british common law and includes the concepts people typically associate with a contract such as offer and acceptance consideration performance and breach while independent from britain for over fifty years singapore continues to follow british contract law diverging in only small ways singapores alignment with the widely understood and well recognized common law tradition makes it easy for businesses to sign . As stated by the contract law in singapore a contract is an agreement document between two or more parties whose rights and obligations are stipulated in the contract the rights and obligation of the contract legislation in singapore can vary in accordance to the stipulations of the contract but in all cases they are enforceable by law. 811 contract law in singapore is largely based on the common law of contract in england hence the rules developed in the singapore courts do bear a very close resemblance to those developed under english common law indeed where there is no singapore authority specifically on point it will usually be assumed that the position will in the first instance be no different from that in england unlike its neighbours malaysia and brunei following independence in 1965 singapores . Therefore contracts signed or performed in singapore may stipulate a foreign governing law for instance an american mnc in singapore may require its singapore employees to sign employment contracts governed by american law in the event of a dispute the parties involved may sue in a court of law to enforce the contract if the suing takes place before a singapore court the court may have to apply american law to enforce the contract choosing a governing law is important
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