The same law got refined 5 years later in 1917 and it was then be able to cover all parts of nigeria. Pdf a conceptual analysis of the rule of law in nigeria. The very first company law came up in nigeria in 1912. The concept of limited liability and separate legal personality is a well established principle in nigeria and is enshrined under cama. Brief historical background of company law in nigeria the history of nigerian company law could be briefly traced to the joint stock companies act 1855 which introduced the principle of limited liability of companies and the role of deed of settlement was highly practised in the united kingdom1. Mention the legal effects of these types of partnership. Based on this finding, and because of the fragmentary nature of enterprise data in nigeria, we shall use data on lagos state for our analysis in this subsection. A law is a set of rules, formulas, theories, regulations, principles, guidelines, precepts. Gower,1979, gowers principles of modern company law, 4th ed. According to history, the very first nigeria company law was announced in 1912. Davies, gowers principle of modern company law 6th edn.
The remuneration of judges should be free from executive control. Pdf introduction the contribution of the company law of nigeria to orderly regulation of business and economic affairs need not be. A company is a corporation an artificial person created by law. Factors that can ensure the operation of the rule of law 1. The judiciary must be free from the control of the ruling government. A company thus has legal rights and obligations in the same way that a natural person does. Introduction the contribution of the company law of nigeria to orderly regulation of business and economic affairs need not be overemphasized. Acquire a knowledge of the legal environment in which businesses operate in the domestic and international market place. With the reception of english laws into nigeria due to colonialism, the first. Company law, ultra vires, unrestricted capacity, nigeria, united kingdom, ghana. Acquire an understanding of the principles of common law system within the students own legal system and how it affects their business life. Stock companies act 1855 which introduced the principle of limited liability of. This same law got amended some 5 years later in 1917 and it was then able to cover all parts of nigeria.
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