Day: September 23, 2020

Under section 39 of the Partnership Act, a court may order the dissolution of a partnership on the following grounds: If a partner has become a lunatic or is permanently of unsound mind If a partner is continuously guilty of Read More …

Partners share profit or loss equally A partner who incurs loss or liability in the course of the firms business is entitled to indemnity A partner who lends money to the firm is entitled to interest at the rate of Read More …

The person adopting must have attained the age of 25 or be at least 21 years older than the adoptee Must belong to the same race Must have lived with the adoptee for at least three months The adoptee must Read More …

The phrase independence of the judiciary means that: – There should be a distinct organ of government whose sole responsibility is administration of justice. – This organ must be as impartial or unbiased or as disinterested as possible. – This Read More …

A custom is an embodiment of a principle of utility or justice that has commended itself. A custom may be relied upon as a source of law in the determination of certain civil disputes. However, not every custom is applicable Read More …

Advantages of arbitration Cheap –it costs less to see a case through arbitration Flexibility –arbitral tribunals are not bound by previous awards or strict rules of procedure. Speed –it is a faster method of dispute resolution Convenience –parties are free Read More …

Solution Codification: This is the bringing together of all rules or principles of law in a particular field to constitute a single statute for example the Sale of Goods Act Cap 31, it ordinarily relates to unwritten law. Consolidation: This Read More …

A crossing consists of two parallel transverse lines on the face of the cheque. It is an instruction to the banker not to pay the proceeds of the cheque across the counter. There are two types of crossing namely; general Read More …

The contract of insurance is the Locus Classicus illustration of the so called contracts uberrimae fidei i.e. utmost good faith. It modifies the common law principle of caveat emptor Both parties are bound to disclose material facts. The duty to Read More …

As a general rule, a seller of goods is not liable if the goods or not of merchantable quality or fit for the purpose for which they are obtained. This is the principle of Caveat emptor. However under section 16 Read More …