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Major portions of Singapore law, particularly contract law, equity and trust law, property law and tort law, are largely judge-made, though certain aspects have now been modified to some extent by statutes. A custom is an established practice or course of behaviour that is regarded by the persons engaged in the practice as law. Customs do not ...
Property owners with rental income may make claims on the total amount of their rental expenses. Alternatively, they may claim deemed rental expenses calculated based on 15% of the gross rent. In addition to the 15% deemed rental expenses, property owners may claim mortgage interest on the loan taken to purchase the tenanted property. [6]
The Ministry of Law (MinLaw; Malay: Kementerian Undang-Undang; Chinese: 律政部; Tamil: சட்ட அமைச்சு) is a ministry of the Government of Singapore responsible for the advancement in access to justice, the rule of law, the economy and society through policy, law and services.
In the USA Statute of Frauds provisions require express trusts to be evidenced in writing if the trust property is above a certain value, or is real estate. Fixed trust: The entitlement of the beneficiaries is fixed by the settlor. The trustee has little or no discretion. Common examples are: a trust for a minor ("to x if she attains 21");
Additionally, the Minors' Contracts Act 1987 as applicable in Singapore and in England and Wales provides that a contract entered into by a minor is not automatically unenforceable and that a "court may, if it is just and equitable to do so, require the [minor] defendant to transfer to the plaintiff any property acquired by the defendant under ...
Calouste Gulbenkian, a wealthy Armenian oil businessman and co-founder of the Iraq Petroleum Company, made a settlement in 1929 that said the trustees should ‘in their absolute discretion’ and while his son Nubar Gulbenkian was still alive, give trust property to 'Nubar Sarkis Gulbenkian and any wife and his children or remoter issue for the time being in existence whether minors or adults ...
ACRA is the regulator of business registration, financial reporting, public accountants and corporate service providers. ACRA is also responsible for developing the accountancy sector and setting the accounting standards for companies, charities co-operative societies, and societies in Singapore.
However, the enjoyment of these rights may be restricted by laws imposed by the Parliament of Singapore on the grounds stated in Article 14(2) of the Constitution. There are two types of grounds. For the first type, it must be shown that restricting the rights is "necessary or expedient in the interest" of the grounds.