FabReads Digest with Law 062 – Advantages of Incorporation (Company Law)
Some consequences flow from the incorporation of a Company. The most important of this is the Legal Personality bestowed on the Company from which other consequences or advantages flow. This includes Limited liability Property The right of Corporate Litigation (suing and being sued) Perpetual succession Power to borrow money Transfer of shares. NB, as we […]
FabReads Digest with Law 061 – Corporate Personalities (Company Law)
This is the most important of the fundamental principles of company law. it simply means that upon incorporation, the company becomes a legal entity distinct from its members. Corporate personality is essentially a device to protect the creditors and other persons dealing with the company by predetermining who to hold responsible for the company’s obligation. […]
FabReads Digest with Law 060 – Prospectus (Law of Business Association)
This is a way of raising money from the capital market instead of going to collect loan from the bank. This is achieved by selling your shares to members of the public. The ISA and the CAMA 1990 are the Act that regulates the prospectus. See S67-96. S567 interpretation Claus of CAMA defines a prospectus […]
FabReads Digest with Law 059 – Forms of Business Organisations- Partnership (Business Law)
Partnership is a form of business organisation that deals with the relationship existing between persons with the common aim of making profit. There are two types of partnership namely general partnership and limited partnership. Follow the link below to read on Corporation. GENERAL PARTNERSHIP: This allows both partners to invest their money, property or labour […]
FabReads Digest with Law 058 – Trespass to Land (Law of Torts)
Trespass to land is an unlawful entry into the land in possession of the plaintiff. Trespass to land can be committed by: BY UNAUTHORIZED ENTRY INTO THE LAND: it is referred as the commonest form of tort. Any slightest crossing of the boundary of the plaintiff is sufficient to enable him to recover damages. It is […]
FabReads Digest with Law 057 – Application of Law of Evidence
The Evidence Act is only applicable to all courts of record in Nigeria. Section 1 of the Evidence Act 2011 invariably allows evidence to be given in any suit or proceeding whatsoever. Notwithstanding the above, Section 256(1) of the Evidence Act, 2011 provides that the Act shall apply to all courts of records in Nigeria to the exclusion of the […]
FabReads Digest with Law 056 – Mens Rea
As a general rule, a person cannot be convicted of a crime unless it is proved that he/she has a guilty mind. This is enshrined in the principle ‘’actus non facit reum nisi mens sit rea.’’ CONCEPT SIGNIFYING THE STATE OF MIND 1. Intention: The court usually relies on the presumption that a man intends on […]
FabReads Digest with Law 055 – Actus Reus
Actus Reus is the physical act of a crime. it may also be defined as all the material elements in the definition of an offence except the accused’s mental state. It consists of conduct, circumstance, result or consequence of conduct or omission. However, these three elements do not need to be present in every offence. […]
FabReads Digest with Law #054 – Land Law – Terminologies in Land law (Possession)
Possession means the effective physical or normal control or occupation of a property. Thus, a person in possession is that person who is in actual physical possession of the land. A person claiming possession must not only prove his relationship to the land but must also prove his physical acts showing exclusive possession of the […]
FabReads Digest with Law 053 – Trespass to Person (False imprisonment)
Lord Edward, COKE CJ explained false imprisonment as ‘’Every restraint of the liberty of a free man is imprisonment although he be not in the confines of a prison.’’ It should be noted that false imprisonment is actionable per se and must occur as a result of the direct act of the defendant. Elements of the tort […]