What is an LLP An LLP, short term for “limited liability partnership”, is a partnership that combines the features you will find in a partnership and a limited liability company. In this regards, an LLP: Is mostly governed by the Limited Liability Partnership Act; Accords protection to its partners similar to the protection accorded to…
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Filling your tax, especially for first-timers, can be a daunting task. Therefore, we have decided to share a brief guide on how to file your income tax to assist you in this matter. Who needs to file for income tax? Individuals whose total annual income (after EPF deduction) is RM34,000.00 and above; Individuals who earns…
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If a person is found guilty of a crime, the judge has the discretion to impose a sentence or a punishment based on what is allowed in a statute, such as the Penal Code. Today, we will explore some of the punishments or sentences that a judge could pass in sentencing a person or offender…
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What is self-defense? Self-defense (or in legal terms, private defense) is an act whereby one uses reasonable force to protect himself or the people around him from being attacked or harmed by another person. It is a defense that one can raise if they accidentally cause harm or kill another while exercising self-defense. Under what…
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What is fraudulent trading? Fraudulent trading is an act whereby a company carries on business operations with the intent to commit fraud/ purposefully defrauding its creditors/ creditors of other entity. Under section 540 Companies Act, it can be noted that fraudulent trading is both a civil criminal offence and is punishable by steep fines, debt/liabilities…
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What is a “friendly loan” A “friendly loan” is a loan: That is different from those a person obtain from a moneylender or financial institution; The loan is given on trust i.e. it might/ might not have a written agreement between the parties involved In order to secure the repayment of the loan, there may…
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What is debt recovery? In legal terms, it is a process that allows you (as a creditor) to recover the debts that are owed to you (legally) by individuals or companies (“debtors”) arising from a breach of contract for service, contract for sale and purchase, loan agreement, etc. PRELIMINARIES If your debtor is an…
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What is a consumer tribunal? The Tribunal for Consumer Claims or the Tribunal Tuntutan Pengguna Malaysia (the “Tribunal”), an independent body established under the Consumer Protection Act (the “Act”) and operates under the Ministry of Domestic Trade, Co-Operatives and Consumerism, is a tribunal that is established to provide an alternate means for consumers to file…
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In this article, we will briefly discuss the ways in which an employee can be laid off, namely, retrenchment, voluntary separation scheme (VSS), and mutual separation scheme (mss). Retrenchment Retrenchment occurs when a company discharges surplus labour or staff. It can be done in six situations (as shown in section 12(3) of the Employment Act),…
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What is an offer to settle? An offer to settle is a legal gesture whereby a party to a trial proposes to settle his/ her gripe with the opposite party out of court before the matter is decided in its finality in court. The offer could come in myriad forms i.e. abstinence, compensation, or even…
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