By: Rafiat O. Rufai. TABLE OF CONTENT Introduction Case scenario Doctrine of privity of contract What is contract? Meaning of Privity Privity of contract Applicability under Nigerian law Third Party Rights Who is a Third-party? Instances where third parties can sue Recommendation Conclusion References INTRODUCTION It is an established rule that only parties to a…

By: Khalid Badru CASE SCENAIRO[1] Ajala, a grade four worker in the Ministry of Works had a slight headache and back pain. He decided to patronize a local chemist near-by. Unsuspectingly, he was given expired drugs. While drinking the yoghurt he got from the chemist he noticed some sediments after spitting it out from his…

By: Zainab O. Lawal   INTRODUCTION It is no doubt that fundamental rights have been recognized and entrenched in our Constitution and these rights have been commonly called different names at different times in history such as divine rights, natural rights, human rights, moral rights, constitutional rights and so forth. The Universal Declaration of Human…

By: Janet M. Adio Introduction Generally, there is an erroneous opinion that unwritten contracts are unenforceable. However, contrary to this opinion, a contract can arise out of any discussion, obligation or instruction to do an act as far as the elements of a contract are present and still be enforceable. According to the Court in…

By: Paul Omobhude Esq.     INTRODUCTION Where a person signs a document or enters into a contract, it carries with it an intention that he intends to be bound by the document or the contract entered into. However, where such a person’s signature was obtained either by fraud or misrepresentation or where he signed…

BY: Harmony Eghwubare ESQ.     INTRODUCTION: Medical practice usually involves numerous activities which may give rise to liabilities on the part of the medical practitioner, if same are not professionally handled. These liabilities may arise in the form of tortious claims and in some other cases, may go beyond the sphere of civil liabilities…

By: DAMILOLA BAMISILE  INTRODUCTION Over the last few years, Nigeria and indeed the whole world has seen an exponential increase in entrepreneurial activities. Without a doubt, these entrepreneurs have caused a shift in the traditional way of doing things as they have ushered the world into seamless methods; into new ways of doing anything and…

BY: IGECHI ICHEGBO ESQ. INTRODUCTION Loans are generally secured or collateralized by assets which include floating and fixed assets, shares of the company, cash in bank, and in some cases personal guarantee of individuals. In several circumstances, the borrower might not have enough assets or any collateral for the loan. It is on such occasions…

By: Harmony Eghwubare, Esq.   INTRODUCTION It is no longer news that with the advent of the internet, the world has become a global village; and it has been observed that many organisations now additionally operate as digital businesses. The internet has undeniably transformed the way organizations conduct their businesses and other transactional activities, which…

BY: PAUL OMOBHUDE, ESQ.   INTRODUCTION Once a company is incorporated, in law it becomes a separate entity and possesses a distinct legal personality from the directors or shareholders of the company. The status of incorporation enables the company to own properties, secure credit for business, sue and be sued. Likewise, the status of incorporation shields the directing…

By: Harmony Eghwubare, Esq.   INTRODUCTION Globally, there has been a drastic expansion in the scope of employer-employee relations which has birthed new employment models; one of which is the Triangular Employment model. This model is rapidly becoming the preferred option amongst corporate organizations which, very likely, is due to the fact that it saves…

BY: PAUL OMOBHUDE, ESQ.   CONTENT Introduction. Meaning of “without prejudice” rule Meaning of business letters Merits of business letters Comparative statutory provision of “without prejudice” rule in Nigeria, America and India Case law on modern day approach to the “without prejudice” rule The implication of the usage of “without prejudice” in business letters and…

BY: IGECHI ICHEGBO, Esq.   INTRODUCTION The Corona Virus Pandemic has ushered a new normal into our everyday lives, which is the application of or dependence on technology as a vital instrument, in transacting business globally. We must ensure that parties to commercial contracts can have a proper and valid window, for the settlement of…

BY: DAMILOLA BAMISILE, ESQ. The Companies and Allied Matters Act is the principal law regulating the formation, operation and dissolution of companies in Nigeria. Over the past 3 decades, companies have been regulated by the Companies and Allied Matters Act, 1990. However, on 7th August 2020, the President of Nigeria signed into law, the Companies…

BY: PATRICK MGBEOMA, ESQ. INTRODUCTION It is trite that once a company is formed, the company begets its own legal personality which is different from its members or shareholders. This position was elucidated in the well-celebrated case of Salomon v. Salomon & Co (1897) AC 22. In Nigeria, the body that is responsible for the…

BY: DAMILOLA BAMISILE, ESQ. Legend Plc and Magodna Plc are two medium-sized companies in the plastics manufacturing industry; the boards of both companies have decided to embark on a merger. Interestingly, both companies have robust finance departments and upon completion of the merger, the board soon realizes that there are duplicated roles and that they…

BY: PAUL OMOBHUDE, ESQ. Introduction As we all know consumers are the most vital part of every business, because without consumers all businesses will collapse and as such; we all owe our consumers a great deal of commitment. Consumers are usually not present during production hence, they are unable to make any input with regards…

By Paul Omobhude Esq. Introduction It is no longer news that the world is on lockdown which has paralysed both the economy and the entire labour force. This paper will address the options available to employers during the lockdown. It is no doubt that there are different employers in different sectors whose finances, resources, income…

By Habeeb Adekola Esq., Associate Counsel, AAA Chambers INTRODUCTION There is no gain saying that the outbreak of Corona Virus (hereinafter referred to as COVID-19) has resulted in a standstill or at least a substantial breakdown of activities in virtually all aspects of life. While some have argued that the virus is a natural occurrence,…

by Damilola Bamisile Esq., Associate Counsel, AAA Chambers  INTRODUCTION The Finance Act 2020 was signed into law by President Muhammadu Buhari on the 13th January 2020 as a review of tax laws to make them more responsive to reforms. It must be stated that there is in existence an Act known as the Finance (Control…

By Anuoluwapo Agboke, Media & Corporate Communications, AAA Chambers INTRODUCTION Globalisation which was once a tool for colonisation has metamorphosed over the years into what we recognise today as foreign investment. There comes a time in every business where the need to expand beyond the shores of one’s country is imminent. At one point or…

The end product of every litigation is a judgment which determines the right and obligations of the parties in respect of the cause of action subject to the right to appeal.

By Harmony Eghwubare Esq., Associate Counsel, AAA Chambers INTRODUCTION We are in a time when the world has become a global village, as there has been an increase in foreign trade and investment. However, when there is a breach in trade/business contracts, the successful party should be able to enforce the judgment whether foreign or…

By Paul Omobhude Esq. , Associate Counsel, AAA Chambers INTRODUCTION To maintain and grow a functional economy, investors often require loans which are made available by commercial banks and other financial institutions using its depositors’ funds upon security furnished for the repayment of such loans by the borrowing investors. As simple as the credit transaction…

Brief History of AMCON Asset Management Corporation of Nigeria (AMCON) was established on the 19th July 2010, when the President of the Federal Republic of Nigeria signed the AMCON Act No. 4, 2010 into Law on the same day. The AMCON Act was also amended in 2015 and known as the AMCON Amendment Act, 2015 precisely…

By Habeeb Adekola – AAA Chambers INTRODUCTION Corporate restructuring is a redesigning process that is practised all over the world. For a corporation to survive in Nigeria today, it must be possessed with sufficient drive for growth. This is because the competitiveness of the commercial landscape in Nigeria has made continuous development an inevitable phenomenon…

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By Ayodeji Agunbiade, Litigation Officer – AAA Chambers Introduction On 31st January 2019, the new Civil Procedure Rules – THE HIGH COURT OF LAGOS STATE {CIVIL PROCEDURE} RULES, 2019, as one of the successful achievements of the former Chief Judge of Lagos State, Hon. Justice Opeyemi Oke, as he then was, came into force repealing…

By Patrick Mgbeoma, Senior Associate – AAA Chambers Doctrine of Covering the Field The principle of doctrine of covering the field is a constitutional law principle which is manifested specifically in a Federal System of government with particular respect to which legislating house possess the constitutional power to legislate on laws in that state. Nigeria…

By Adeyemi Ogunremi, Legal Counsel – AAA Chambers An Analysis of the Case of Central Bank of Nigeria v. Interstellar Communications Ltd. & 3 Ors (2018) 7 NWLR Pt. 1618 @ Pg 294 Garnishee Proceeding Garnishee proceeding is a judicial process whereby a judgment creditor who is armed with the judgment of a Court may…

In recent times, there has been an increase in the rate of non-repayment of debts by debtors (including individuals and companies) and creditors have been provided with numerous ways through which to recover the debts owed to them. Some of these means of recovering debt include ADR (Mediation, arbitration), Litigation, Bankruptcy Proceedings and Winding Up…

By Paul Omobhude Esq., Associate Counsel – AAA Chambers Samson lives with Stacie, whom he often refers to as his wife. Together they have a son named Princewill who is just 6 years old. Their maid, Julia, has reported to the police that the couple’s son, Princewill, raped her when both his parents were out…

By Patrick Mgbeoma Esq. , Senior Associate – AAA Chambers Mr Ken intends to obtain a loan facility from Titanium Bank but will have to use his house as collateral to obtain the loan, when Mr Ken exchanges the title document to his house with Titanium Bank, then a mortgage has been created between the…

By Harmony Eghwubare Esq., Associate Counsel – AAA Chambers Madam Nora took a loan of N10,000,000 (Ten Million Naira) from her bank in June 2018 and was supposed to have finished repaying the loan by January 2019. However, she had been defaulting in her payment and her outstanding indebtedness became N18,000,000 (Eighteen Million Naira). To this effect,…

By Patrick Mgbeoma Esq., Senior Associate – AAA Chambers Mike and Ted are best friends who intend entering a business relationship. In order not to cause a strain in their cordial relationship, they inserted an Arbitration clause in their contractual agreements to forestall a situation where any of them will have to approach the Court…

By Adeyemi Ogunremi, Esq. Associate Counsel for AAA Chambers Mr Ken issued a cheque of N300,000.00 (Three Hundred Thousand Naira) to Mr David as payment for service rendered and upon presentation of the cheque at the bank by Mr David, the cheque was returned due to insufficient funds in Mr Ken’s account. Sequel to the ugly…

Ms Nelly was advised to take a loan to start her business and to this effect, she recently got a loan of N5,000,000.00 (Five Million Naira) from her bank to be paid back within three years. Unfortunately, Ms Nelly died in the recent Ethiopian Airline plane crash and the bank has received the news of…

CASE SCENARIO Mrs Adeyemi advanced a loan of 200 million Naira to Mr Patrick, a Togolese residing in Nigeria. The loan was secured by Mr Patrick’s landed property located in Lagos. Mr Patrick failed to repay the loan, Miss Atinuke sued in the Lagos high court. During the pendency of the suit, Mr Patrick put…

Mr Obama has sued the Federal Inland Revenue Service (FIRS) at the Lagos State High Court, as a result of the restriction placed on his accounts with all the Banks. The Federal Inland Revenue Service (FIRS), rather than file a defence to the suit, has decided to file a Notice of Preliminary Objection challenging the…

Crystal Plc is a Bank registered in Nigeria to do the business of banking. The Bank was approached by Dann Holdings Ltd for a loan of N300,000,000.00 {Three Hundred Million Naira} to be paid back within 2 years and further executed a deed of legal mortgage covering the company’s property located at Victoria Island Lagos, worth N350,000,000.00 {Three Hundred and Fifty…