Collective sellers can disregard the terms of a signed contract by simply challenging the rules and rescinding it;

If enough sellers withdraw from a signed contract, the law may not be swift enough to give the buyers due protection as a result of the broken promise made by the sellers; and

Lawyers are the only clear winners in the arena of failed agreements between willing sellers and buyers.

A contract, in the simplest definition, is a promise enforceable by law. In the recent cases, it is crystal clear the sellers went back on their word because the agreed sale price was 'too low'. I feel the courts should have just enforced penalties here, rather than let the subsequent chain of events run.

So the buyers had to threaten these sellers with lawsuits. The latter responded with a host of 'reasons' why the sale agreement should be cancelled. Yet the courts are obliged to hear out both plaintiffs and defendants. Lawyers are hired to represent their respective clients.

All these legal disputes are counter productive, especially for the aggrieved buyers who have the commercial right to proceed with their legal suits against the sellers. Time, money and tears are shed over something that could have been easily resolved by the courts.

An agreement, commercial or social, remains an agreement. If the irresponsible party defaults on the terms of the contract so the aggrieved party takes the issue to court, the court should immediately arrive at a verdict. Penalties should be meted out swiftly against the wrongdoer.

Our society needs to be confident in carrying out the terms of commercial and social contracts. Our children and the next generation are watching us closely in the way we make just decisions. Foreign businesses and enterprises are watching us to see how we deal with simple issues such as breaking a basic contractual agreement.

In this regard, I suggest the Ministry of Education introduce a basic civics education module for students on 'Keeping one's word'. Schools should emphasise time-honoured values such as 'Integrity at all costs' to children.

George Lim Heng Chye