SUBJECT: COMMERCIAL LAW

GENERAL AIM

 To prepare trainees with the knowle!e o" the !eneral le!al s#ste$ o" %i$&a&we'

 To e()ip the trainee with the &asi* prin*iples o" law that are rele+ant to the orinar#

&)siness worl in %i$&a&we'

CONTENT

,'T-E LEGAL S.STEM

,' Ienti"# an is*)ss the so)r*es o" law'/' O)tline the $akin! o" national law'0' 1is*)ss *)sto$2 3)i*ial e*isions2 le!al treaties2 so*ietal +al)es e't'* as

so)r*es o" law4' O)tline the hierar*h# o" le!al *o)rts5' 1es*ri&e the le!islation pro*ess6' Classi"# law into i+isions 78is National2 International or A3e*ti+al2 9)&li*2

9ri+ate;' 1is*)ss the repeal an a&ro!ation o" laws'<' 1istin!)ish *i+il law "ro$ *ri$inal law

/' T-E LAW O= CONTRACT

,' 1e>ne law o" *ontra*t/' O)tline an is*)ss the essentials o" a +ali *ontra*t 7A!ree$ent2 Contra*t)al

Capa*it#2 Realit# an *onsent2 O&3e*t o" *ontra*t2 "or$alities2 *ontra*ts in

restraints o" trae0' 1is*)ss the operation o" the *ontra*t 7Ter$s2 Conitions2 Stip)latio Alteri4' E?plain what is entaile in the ter$ination o" a *ontra*t 7per"or$an*e2 $)t)al

a!ree$ent2 s)per+enin! i$possi&ilit#2 $er!er2 set@o2 e?tin*ti+e

pres*ription'5' 1is*)ss what $a# *onstit)te a &rea*h o" the *ontra*t'6' O)tline an e?plain the re$eies o" a &rea*h o" a *ontra*t 7*an*ellation2

a$a!es et*

 0'LAW O= 9URC-ASE AN1 SALE

,' 1e>ne the law o" p)r*hase an sale'/' O)tline the ele$ents o" the *ontra*t 7re: a!ree$ent2 pri*e2 $er?7thin!0' 1is*)ss the *on*ept o" eli+er# 7$o+a&le an i$$o+a&les4' State the re()ire$ents "or the passin! o" ownership an risk5' O)tline an is*)ss the )ties o" the seller'6' O)tline an is*)ss the )ties o" the &)#er

 4'LAW O= NEGOTIABLE INSTRUMENTS

,' 1e>ne ne!otia&le instr)$ents

 

/' O)tline an e?plain the essentials o" a *he()e0' 1is*)ss the iss)in! o" *he()es4' E?plain the ne!otiation o" *he()es'5' E?plain the prin*iples o" ne!otia&le instr)$ents6' E?plain pro$issor# notes an &ills o" e?*han!e

  5'LAW O= 9RO9ERT.

,' 1e>ne thin!s an their *lassi>*ation'/' 1is*)ss the real ri!hts 7with re"eren*e to ownership an possession0' 1is*)ss the $ethos that *o)l &e )se to a*()ire ownership'4' E?plain the $ethos that *o)l &e )se to trans"er ownership

 6'LAW O= SECURIT.

,' 1e>ne se*)rit# in relation to the *reitor@e&tor relationships/' E?plain the law o" $ort!a!e0' 1is*)ss liens4' E?plain the law o" ple!e5' 1is*)ss an !i+e *ontents o" *)ratorship

  ;'LAW O= AGENC.

,' 1e>ne a!en*#'/' 1is*)ss how a!en*# arises@&# e?press a)thorit#2 i$plie a)thorit#2 i$plie &#

law2 i$plie &# *on)*t2 rati>*ation2 stip)lation alteri: *o$panies A*t2

ne!otior)$ !estio0' 1istin!)ish the +ario)s t#pes o" a!ents 7!eneralDspe*ial2 "a*tor2 &roker2

a)*tioneer2 estate a!ent2 ne!otior)$ !estor et*4' 1is*)ss the ri!hts an the )ties o" a!ents an prin*ipals5' 1is*)ss the ter$ination o" the *ontra*t o" a!en*#7e?pir# o" ti$e2 *o$pletion

o" $anate2 $)t)al *onsent2 i$possi&ilit# o" per"or$an*e2 ren)n*iation &#

a!ent2 re+o*ation &# prin*ipal'

  <'LAW O= 9ARTNERS-I9

,' 1e>ne partnership an istin!)ish &etween +ario)s t#pes o" partners/' 1is*)ss the )ties o" partner0' 1istin!)ish a partnership "ro$ a *o$pan#4' 1is*)ss the ter$ination o" a partnership

EM9LO.MENT CONTRACT

,' 1e>ne e$plo#$ent'/' 1is*)ss ")na$ental ri!hts o" an e$plo#ee as e>ne in La&o)r Relations

A*t'0' 1is*)ss the )ties o" e$plo#er an e$plo#ee4' 1istin!)ish &etween the inepenent *ontra*tor an ser+ant5' 1is*)ss the ter$ination o" a *ontra*t'

 

  SUGGESTE1 TEFTBOOS

WilliesH 9rin*iples o" So)th A"ri*an Law &# J)ta

=o*)s St)# Ais in =irst .ear B)siness Law "or %i$&a&wean st)ents &# E C Ma*Call

Law o" Contra*t &# 9 8olpe

S'A Mer*antile Law &# I'T'R Gi&son