What is law? Law is a system of rules & guidelines, usually enforced through a set of institutions. For this course, we covered the Contract Law, Hire Purchase Law & Intellectual Property Rights.
All contracts are agreement but not all agreements are contracts. It must first satisfy the requirement of a contract as what in the Contract Act 1960. Basically, a contract must have an offer & acceptance, consideration and intent. Then we look at the capacity and competency to enter into a contract such as age of majority, of sound mind and not legally disqualified from contracting.Sometimes the contract can be void or voidable due to circumstances such as parties of incompetent capacity, contract not permissible by law, contract entered without free consent and many more as stated in the Act.
In Hire Purchase, it is governed under the Hire Purchase Act 1967. Hire Purchase its different from sales of goods by installments, credit or cash. In general, Hire Purchase is a contract where there is a transaction between hirer and the owner of the goods to hired the goods with monthly payment for certain tenure. At the end of the tenure, hirer has the option to terminate, return or buy the goods. For example, car loan with the bank.Under the act, Hire Purchase must be in writing and signing a blank contract or form is outlawed and one good one contract.
In Intellectual Property Rights, it covered copyrights, trademark, patent, industrial design and integrated circuit. In order to get Intellectual Property protection, it must satisfy the legal requirements of each respective Acts. Each of this Intellectual Property has a time frame, that is, patent right is for 20 years, copyright is throughout the life time of the author plus 50 years after his death, trademark do not have any time limit as long as is in use and industrial design is for 12 years.For patent, it special as it cannot get it automatically but have apply to the National Trademark & Patent office and pass the test before is granted. Whereas for copyright and trademark, there is no need to apply but just register only.
This is just basically a general overview of each Acts and there is more requirements and circumstances governed under each respective Acts.
