The term “novation” denotes an agreement entered into by two or more contracting parties, thereby consenting to allow for the substitution of a new party for an existing one. The original contracting party being replaced by the new party is thereby excused. By its very nature, a novation is a new obligation that extinguishes and replaces an original contract or obligation. Novation equally applies to substitution of parties.
Negligence is said to be omission or failure to do something which a reasonable man, under similar circumstances, would do or doing of something which a reasonable and prudent man would not do. Put differently, negligence is the omission to do something which a reasonable man, guided upon those considerations which ordinarily regulate conduct of human affairs, would do or doing something which a prudent and reasonable man would not do.
A moot case is a matter in which a controversy no longer exists; a case that presents only an abstract question that does not arise from existing facts or rights. Thus, a moot case is drained of any casus belli or cognisable interest inter partes to ignite the jurisdiction of a court. (P. 428, paras. G-H).
Miscarriage of justice simply means justice miscarried, failure of justice or failure of a court to do justice. It means a departure from the rules which permeates a judicial procedure as to make that which happened not, in the proper sense of the word, a judicial procedure at all. It is a substantial wrong which occurs during a trial which so affects the proceeding so as to merit quashing the result.
Locus standi denotes the legal capacity to institute or commence an action in a competent court of law or tribunal. The term entails the legal capacity of instituting or commencing an action in a competent court of law or tribunal without any inhibition, obstruction, or hindrance from any person or body whatsoever. The issue of locus standi is a condition precedent to the determination of a case on merit. Where a plaintiff has no locus standi to bring a suit, the suit becomes incompetent and the court lacks the jurisdiction to entertain it. The only order the court can make in the circumstance is that of dismissal.
A State Government or the Governor of a State has no power to constitute, appoint or determine a local government that S. 7(1) of the 1999 Constitution has prescribed can only be by Local Government Councils democratically elected by persons in a local government area.
Where a statute of limitation prescribes a period within which an action should be commenced, legal proceedings cannot be properly or validly instituted after the expiration of the prescribed period. Therefore, a cause of action is statue barred if legal proceedings cannot be commenced in respect of same because the period laid down by the limitation law had lapsed. An action which is not brought within the prescribed period offends the provisions of the law and does not give rise to a cause of action.
The concept of vicarious liability is the imposition of liability on a person for actionable conduct of another, based solely on a relationship between the two persons. It runs against the well-known rule of responsibility in tort that requires everyone to bear consequences of his own action. It is an indirect or imputed legal responsibility for the acts of another as in the liability of an employer for the acts of an employee, or, a principal for torts and conduct of an agent.
In international trade, “letter of credit” also known as “documentary credit” is the most commonly accepted instrument of settling international trade payments. A letter of credit is an arrangement whereby a bank acting at the request of a customer (importer/buyer) undertakes to pay for the goods/services to a third party (exporter/beneficiary) by a given date on documents being presented in compliance with the conditions laid down.
The powers conferrable on an administrator by a letter of administration are wide. It includes the power to hold the real estate as a trustee and also to bear the liabilities of the estate. This is notwithstanding that the properties of the deceased to be administered by an administrator or administratrix of the estate are usually clearly spelt out or covered by the grant of letters of administration
