Law of Contract Act Re 2019 Pdf

February 10, 2022 0 Comments

The Law of Contract Act (Revised 2019) is an important piece of legislation that provides a framework for the creation and enforcement of contracts in Malaysia. The act sets out the rules that apply to all types of contracts, including commercial, employment, and consumer contracts.

The Law of Contract Act (Revised 2019) replaces the previous version of the act that was enacted in 1950. The updated version of the act introduces several changes to the law of contract in Malaysia, including the recognition of electronic contracts and the introduction of a new regime for the enforcement of contracts.

One of the most significant changes introduced by the Law of Contract Act (Revised 2019) is the recognition of electronic contracts. This means that contracts created and signed electronically are now legally binding and enforceable in Malaysia. The act also sets out the requirements for creating electronic contracts, including the need for parties to provide their consent and for the contract to be in a form that can be stored and retrieved in the future.

Another important change introduced by the Law of Contract Act (Revised 2019) is the new regime for the enforcement of contracts. The act provides for a range of remedies for breach of contract, including damages, specific performance, and injunctions. The act also sets out the rules for determining whether a contract has been breached and the procedures for enforcing a breach.

Overall, the Law of Contract Act (Revised 2019) is an important piece of legislation for anyone involved in creating or enforcing contracts in Malaysia. The act provides a clear and comprehensive framework for the creation and enforcement of contracts, while introducing important changes to reflect the modern business environment, including the recognition of electronic contracts. If you are involved in contract law in Malaysia, it is essential that you are familiar with the provisions of this act and how they relate to your work.