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In Singapore, are verbal agreements legally binding, or is a written agreement necessary for enforceability? How can individuals ensure the validity of an IOU note in Singapore, and when might it not be sufficient in a legal dispute? Are there specific requirements for an IOU note to be legally valid in Singapore?
In this episode, Jonathan talks about the importance of formalizing financial transactions in Singapore. Relying solely on an IOU note or a verbal agreement can lead to legal tangles and leave both parties at a loss.
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