The debate over whether an unregistered money lender in Nigeria can recover loans with interest continues to generate legal discussions. While the Money Lending Act and state laws require money lenders to be registered before charging interest, some argue that a lender—registered or not—should still be able to recover their money (including profit) if the …
When dealing with property transactions in Nigeria, it is crucial to understand the distinction between leases and licenses. Both terms involve granting rights over land or property, but they differ significantly in their legal nature, rights granted, and implications for both parties. Many individuals and businesses enter agreements without fully understanding these differences, which can …
Leases vs. Licenses: Differences and Legal Implications Read More »
In the world of contracts, unpredictable events can disrupt the execution of agreements, sometimes making it impossible for one or both parties to fulfill their obligations. This is where force majeure clauses come into play. These provisions are vital for managing risks and providing relief when unforeseen circumstances occur. In this post, we’ll explore the …
Understanding Force Majeure Clauses in Contracts Read More »
Termination of employment is a sensitive issue that requires careful adherence to legal guidelines to ensure that both employers and employees are treated fairly. In Nigeria, the law provides a structured approach to the termination of employment contracts, offering protection against arbitrary dismissals while ensuring that employers can make necessary changes to their workforce. This …
Termination of Employment Contracts: Legal Guidelines for Employers and Employees Read More »
Contract law is a fundamental aspect of legal systems worldwide, governing the creation, enforcement, and interpretation of agreements between parties. Whether you’re a business owner, an employee, or a consumer, understanding the basics of contract law is crucial. This post will cover the key elements of a contract, types of contracts, and what to watch …
INTRODUCTION For a contract to be valid, all of its elements must coexist. There are a number of things that can vitiate a contract, one of which is to make the contract lose its validity. Some of the most common of them are misrepresentation, mistake, duress, undue influence, unconscionability, illegality, capacity, and lack of time, …
Duress, Undue Influence, and Capacity as Vitiating Elements in Contract Read More »
