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Deposits: At The Intersection Of Contract, Restitution, Equity And Statute, Tiong Min Yeo
Deposits: At The Intersection Of Contract, Restitution, Equity And Statute, Tiong Min Yeo
2009 Yong Pung How Professorship of Law Lecture
Whether a partial payment is recoverable in restitution by a party in breach of contract depends on the classification of the payment as a deposit or a part-payment. A part payment may be recoverable in unjust enrichment if the contract is terminated and a vitiating factor can be found (usually total failure of consideration in this context), and subject to a counterclaim for damages. However, a deposit is intended to be earnest for performance and will not be recoverable, at least generally. Six questions will be considered: (1) Is the penalty rule applicable to a deposit? (2) If not, is …
The Future Of Promissory Estoppel In Singapore Law, Tiong Min Yeo
The Future Of Promissory Estoppel In Singapore Law, Tiong Min Yeo
2009 Yong Pung How Professorship of Law Lecture
In the preface to the first Singapore and Malaysian edition of Cheshire, Fifoot, and Furmston’s Law of Contract in 1994, Yong Pung How CJ said: “The Singapore legal system should strive towards indigenous development, preferably by way of a rationalization of its basic laws in the first instance.”1 Singapore law has come a long way since then. In recent years we have seen significant restatements by the Singapore judiciary in diverse areas including contract law, tort law, property law, company law and the conflict of laws. This paper will examine a small but basic topic, promissory estoppel, where there have …