Legally Minded

24/07/2019

Be business chic!

19/03/2018

http://www.legallyminded.net/2018/03/who-is-liable-to-pay-land-use-charge.html

On 28 January 2018, the Lagos State House of Assembly passed the Land Use Charge Law 2018 (LUC 2018) to repeal and replace t...

05/01/2018

A peep into the 'Export Processing Zone'.

Export Processing Zones (EPZs) have become a rather popular trade policy instrument since their modern revival in the late 1950s. Over t...

04/11/2017

how can a secured creditor exercise self-help remedy in the repossession of the collateral? click the link below to find out!

The best and most efficient remedy available to the secured creditor [1] is the repossession of the Collateral used to secure a faci...

01/11/2017

The Secured Transactions in Movable Assets Act 2017 makes provision enabling the Secured Creditor to exercise self help remedies in the repossession of the collateral used as security. However, the right of the Secured Creditor is not automatic. Exercised wrongly, the Secured Creditor may be held liable for damages by the Court. This article briefly examines the conditions which must be present before the secured creditor can take advantage of the provision of the Act.

The best and most efficient remedy available to the secured creditor [1] is the repossession of the Collateral used to secure a faci...

22/10/2017

The Acting President, Professor Yemi Osibajo on the 30th of May 2017 signed into law, the Secured Transactions in Movable Assets Act 2017. The act includes an incisive provision allowing the Secured Creditor to repossess the collateral without recourse to Judicial Process. This is a self-help remedy. This Articles examines the self-help provision and the attendant benefits of the provision.

Self- help , according to the Black Law’s dictionary, [1] is an attempt to redress a perceived wrong by one’s own action rather than ...

14/10/2017

‘The words of a contract will be interpreted strictly against the drafter’…. This is what the contra proferentem rule of construction means.

The questions that this article answers are, what is the contra proferentem Rule? When is it applied? What is the position of the Nigerian Courts vis a vis the application of the rules?.

The Contra Proferentem rule is coined from the Latin maxim ‘ verba fortuis accipiuntur contra proferentem’ which simply means ‘agai...

30/09/2017

The legal profession is a conservative profession, priding itself in its conservativeness. However, like every other profession the legal profession is susceptible to change. With the introduction of Smart Contracts, technology is gradually gaining ground in the legal profession with the main aim of rendering the services of lawyers and the roles of Court obsolete. This article examines the lawyer's place in the evolving concept of smart contracts.

The legal profession is a conservative profession, priding itself in its conserv ative nature. However, like every other profession t...

19/09/2017

Are virtual currencies illegal?

On the last paragraph of the Circular of 12 th January 2017, the Central Bank of Nigeria, while warning banks and financial institutio...

15/09/2017

We thank you for 50 likes! here is to many more! Please invite your friends to like Legally Minded as well. .

The world is moving...Law has to move with it or be left behind. This page discusses modicum on how the law can move with the world.