Author name: The Legal Solicitor

Once you have registered a company, and you have started business operations, this is the best time you convert all your losses or expenses into gains through the operations of your company. To start with, you need to understand how the financial accounting of a company is handled. Most companies operate to make profit, but […]

A company is a ‘human being’ (legal person) that you can create by law, to undertake a business or render a service to the general public for profits. So in simple terms, when you register a company, you have given birth to a ‘human being’. A company, just like a human being, can operate in

According to Science… A mad person is simply someone who has a disability, and this disability is the abnormal functioning of the human brain. Insanity is therefore a particular state of a person’s life, where his or her actions and inactions commensurate with his madness, i.e. the person is unconscious of the rightfulness or wrongfulness

LEGAL THINGS TO DO BEFORE, DURING AND AFTER PURCHASING A LAND The law acknowledges that the purchase of a land is a very serious matter. For this reason, the law requires that before one purchases a piece of land, care must be taken. The following ten (10) steps, if diligently followed, should secure any person

What is Misrepresentation? Statements which are intended to influence the other party into entering the contract, but which do not become part of the contract as terms of it are referred to as representations. A misrepresentation is basically a representation which is untrue or false. The general effect of a misrepresentation which induces a party

WHAT IS DISCHARGE OF CONTRACT? Under what circumstances will a party to a contract be freed or discharged from performing his obligations under the contract? There are several ways : Discharge by agreement, performance, breach or frustration. DISCHARGE BY AGREEMENT The parties to an existing contract may enter into a subsequent contract to extinguish their

WHAT ARE VITIATING FACTORS? Vitiating factors are simply legally recognized factors, which make an apparent contract lose its validity when it comes to its enforcement. In contract law, a contract is deemed to be vitiated or invalidated if it is found that there are factors, which negate or nullify the apparent consent of one or

WHAT ARE TERMS OF CONTRACT? The terms of contract are the statements, promises or propositions which form part of the contract and which define the respective rights and obligations assumed by the parties under the contract. The term of contract define the scope and extent of the contract. If a statement forms an integral part

WHAT IS PRIVITY OF CONTRACT? In considering the enforcement of contracts, a preliminary issue which arises is whether a person who is not a party to a contract can enforce it under any circumstances. This raises the issue of privity of contract. Under common law, a person cannot be entitled to enforce or be bound

WHAT IS CONSIDERATION? In contract law , a promise is said to be part of a bargain if it is given “for consideration”. A promise is given for consideration when the promisor asks for something in return for his promise and gets what he asks for. Thus a promise is generally not binding unless something