Hi,
I've been working full-time for a friend on an internet related project for 5 months (big mistake). However, after a while he was like he's not willing to continue. I strongly insisted and he agreed to continue with this project.
I feel so unsecure with his word though, so we arranged to write down some terms on penalties in case someone gives up.
He is directing his own company in Singapore which is not related to our project directly but still on internet related projects.
My question is if we write something between us, does it have any legal validity or we need to write under his company to make it official?
Is there anyone who can suggest me a way out of this trouble? I'm really concerned with wasting my time for someone who is finally gonna set me up.
Thank you so much
Can get a lawyer to write up a personal contract between you two. If your buddy is a driector of a company, then he should have got this done since the inception of the project.
If there is a binding contract - it is possible to insist or have him honour his .... otherwise, it is wasting time.
Cool. Practice . hehe
Anyways, best it to tell ur lawyer draft out a legal contract. Cause ur friend may wanna challenge the contract n get his lawyer to look at it, hence takes time.. and money.lol. Just make sure u add 'Subject to solicitor's approval' as one of the conditionals.
Penalty clause can be drafted in to weight the intention of both parties to the contract.
I am unsure if Sg has any remedies under statute that overrides common law doctrines specifically for breach of contract, repudiation , void and illegal contracts. But i am sure if all falls apart, somewhere somehow, equity will step in.
Then there will be assignment of contractual rights and liabilities.
But anyways contract can be varied by agreements between the parties. Can add , omit or alter terms later on.
Dont see any wrong to take measures to protect yourself from liabilities and also getting 'set up'. Can never be too careful.
Hope it helps. Spend little $ $ $. And you'll be alrite. xD
Correct me if i am wrong.