contract Archives

UBN HELD LIABLE FOR FAILURE TO REMIT FOREIGN EXCHANGE: LESSONS

The Story In 1982, Omni Products (Nig.) Ltd. (“Omni Products”) and Amechi Christopher E’Chukwu (“The Appellants”) applied to and obtained from the Federal Ministry of Finance approvals for the remittance of foreign exchange to their foreign principals, Bekaert International Trade, Belgium. Union Bank of Nigeria Plc (“UBN” or “The Respondent”) was aware of the approvals. […]

stephenazubuike
September 11, 2021
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Case Law

[UNBELIEVABLE] ABU ZARIA DISREGARDS NIGERIAN COURTS IN PREFERENCE OF A COURT IN VIRGINIA, USA

Ahmadu Bello University v. VTLS Inc. [2021] 10 NWLR (Pt. 1783) 33 Nigerian Judiciary is generally plagued by delay in justice delivery. But all hands are on deck to salvage the situation in order to restore and sustain efficient administration of justice. Surprisingly, a Federal university in Nigeria, Ahmadu Bello University, Zaria, Kaduna State, (ABU […]

stephenazubuike
September 2, 2021
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HOW TO SAVE YOUR ACCOUNT FROM BANK’S EXCESS CHARGES: BUSINESS AND LEGAL TACTICS

Case Law

HOW FGN’S SHREWD MOVE TO AVOID A COMPROMISED N9.7B JUDGMENT DEBT WAS BLOCKED BY THE SUPREME COURT

Many a time, the Federal Government of Nigeria (FGN), through some of its agencies, enter into several kinds of contracts. However, through what sometimes appear to be floppy policies, politics, negligence, corrupt practices or mere mischief, the FGN gets involved in unnecessary and avoidable contract breaches. Consequently, the Government is held liable in damages. The […]

stephenazubuike
June 27, 2021
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Case Law

YOUNG SHALL GROW MOTORS ATTEMPTS TO BUY PROPERTY WITH PHOTOCOPIES OF BANK DRAFT BUT THE COURT STOOD IN THE WAY

The Story Young Shall Grow Motors Ltd. v. Onalaja [2021] 3 NWLR (Pt. 1763) 300 The facts of this case are quite interesting. A popular transport company, Young Shall Grow Motors Ltd, also known as “The Young” (“the Appellant”) was a tenant to the Onalaja Family (1st – 4th Respondents) at the property known as […]

stephenazubuike
April 7, 2021
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Opinions

Babcock: Is engaging in private sex capable of tarnishing the image of a University?

A student of Babcock University, Ilishan, Ogun State, “Miss Y”, was found in a trending sex tape which surfaced on online on Wednesday, 21/11/2019. According to the University, the lady was a third-year student of the Accounting Department. Well, the University (a Christian co-educational Nigerian University owned and operated by the Seventh-day Adventist Church in […]

stephenazubuike
November 22, 2019
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37 Views

Case Law

Can the law permit you to reap the fruits of illegality?

Introduction There is always the tendency to believe that the law is always an ass. Proceeding in such belief, people sometimes involve themselves in certain transactions, hoping to take advantage of the law in reaping undeserved benefits. They are able to do this, riding on some legal knowledge acquired; either by observation, experience, research or […]

stephenazubuike
October 13, 2019
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Case Law

Counsel who asked Supreme Court to follow Court of Appeal decisions over its own had himself to blame.

Oil & Gas Export Free Zone Authority v. Osanakpo (SAN) [2019] 6 NWLR (Pt. 1668) 224 at 241, paras. F-G, per Augie, JSC: “So, the Appellant is asking this Court to follow its reasoning in the said case of N.E.P.A. v Edegbero (supra), as “such an approach will be consistent with the opinion of the […]

stephenazubuike
May 27, 2019
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11 Views

Case Law

Caning a child for non-payment of school fees is not only wrongful but illegal.

Master Destiny Kalu & Mr. Inyima Kalu v. Mrs. Uche Obi Owen & Miss Uduak Sam, Suit No. LD/330/2013, per Idowu J: “Caning a child for non-payment of fees is not only wrongful but illegal. It is trite and universally accepted that caning a child does not have positive effect. Flogging is an abuse of […]

stephenazubuike
March 28, 2019
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24 Views

Debt obligation can be transferred by novation

Case Law

A debtor can validly transfer, by novation, his debt obligations without the written consent of the creditor.

Crushing Dragon (Nig.) Ltd & Anor. v. Skye Bank Plc & Anor. Suit No. LD/ADR/534/2013, page 9, per Animahun J.: “In Pat Onegbedan, Esq. v. Unity Bank Plc (2014) LPELR-22186 (CA), novation was described thus: “Contract by novation is a form of assignment in which by consent of all parties thereto, a new contract […]

stephenazubuike
November 17, 2017
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Case Law

A “Memorandum of Understanding” or “Letter of Intent” is not a binding contract.

BPS Construction & Engineering Co. Ltd. v. F.C.D.A. [2017] 10 NWLR (Pt. 1572) 1 at 28, paras. G-H, per Kekere-Ekun, JSC: “…It is clear that a memorandum of understanding or letter of intent, merely sets down in writing what the parties intend will eventually form the basis of a formal contract between them. It […]

stephenazubuike
July 9, 2017
0 Comments
18 Views

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