Posts

Showing posts from November, 2016

COMPANY CAPITAL

In this context, we shall consider ‘capital’ from two broad perspectives:

1. The General Perspective: Scholars like Professor Abugu[1] believe capital is the net-worth of a business and it is determined by the value of its assets excluding its liabilities [Capital: (Net-worth of business= Value of Assets-Liabilities)]. Under the general perspective, capital could either be fixed or floating[2].

DEEDS

A deed is a document transferring legal interest in land from the vendor to the purchaser. At Common Law. A seal instrument containing contract or covenant delivered by the party to be binding thereby and assented by the party to whom the contract or covenant runs. A Deed can also be in the form of indenture. In Common Law conveyancing, a Deed executed or purporting to be executed in part between two or more parties is distinguished by having the edge of the paper on which it is written indented or cut at the top in a particular manner.

INSTRUMENT OF TRANSFER (IOT)

The instrument of transfer takes the form of a conveyance or an assignment of the totality of the transferor’s interest in the property to the transferee usually for consideration. Such instrument is required to be by Deed in order to convey a legal estate in favor of the transferee. See S. 3, Real Property Act 1845; S. 77 PCL.

STAGES IN CONTRACT OF SALE OF LAND

PRE-CONTRACT ENQUIRIES (PRELIMINARY STAGE)
At this stage it is important for the purchaser to investigate thoroughly matters concerning the property. This is because there is no duty on the part of the vendor to disclose to a prospective buyer such facts that the buyer could discover by mere inspection of the property. The legal implication is that he will be precluded from turning around to say he wasn’t aware of such defects. But any false representation by the vendor concerning these matters will entitle the purchaser to claim damages for misrepresentation or breach of contract.

LIFE'S JOURNEY (OLUCHI ASHIMOLE)

Searching deep within I find strength
As along life's journey I tread
I do not know where the road leads
But I'll follow it till I find peace
I do not know what the future holds
But with each step the path unfolds
And I know that I can trust the One Who knows

SOVEREIGNTY (by OLUCHI ASHIMOLE)

I try to comprehend Him
To contain Him with my own understanding
But the harder I try to get to know Him
The more He blows my mind
Just when I think I can finally grasp Him
Another one of His mysteries unfolds before my eyes
And it seems like I've never known Him at all

ADVANTAGES OF FORMAL CONTRACTS

1.A formal contract affords the purchaser the opportunity to investigate the title of the vendor thoroughly before executing the Deed of Assignment. This opportunity is needed especially in cases where large sums are involved.

TYPES OF CONTRACT OF SALE OF LAND

1.Oral Contract:
This is a common method of acquiring land under native law and custom. Here, the requirement of writing is not essential. An oral contract is valid under Nigerian law.

INTRODUCTION

Basically, a conveyance is an instrument or document for the creation, transfer, variation or extinction of interest in land. For a concise definition, see S. 2(v) Conveyancing Act 1881 and S. 2(1) PCL 1959. 

VULNERABLE GROUPS

In relation to the workplace, the term refers to those workers who are likely to experience marginalization, or exclusion, or exploitation, or poor productivity because of their age, sex or status, unless brought into the mainstream of the labor force through deliberate laws and policies by government and employers. Examples include children and young persons, women, the physically challenged, HIV/AIDS persons, internally displaced persons and refugees.