This form of regulation is dominantly principlebased. 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. Acquire a knowledge of the legal environment in which businesses operate in the domestic and international market place. Introduction the contribution of the company law of nigeria to orderly regulation of business and economic affairs need not be overemphasized. Stock companies act 1855 which introduced the principle of limited liability of. The concept of limited liability and separate legal personality is a well established principle in nigeria and is enshrined under cama. The earliest known piece of company legislation of significance in nigeria was the companies act of 1912 which at first applied only to the colony of lagos. This same law got amended some 5 years later in 1917 and it was then able to cover all parts of nigeria.
A law is a set of rules, formulas, theories, regulations, principles, guidelines, precepts. Davies, gowers principle of modern company law 6th edn. Corporate governance in nigeria1 nigerian law guru. According to history, the very first nigeria company law was announced in 1912. The history of nigerian company law could be briefly traced to the joint. Factors that can ensure the operation of the rule of law 1. Pdf a conceptual analysis of the rule of law in nigeria. A company is a corporation an artificial person created by law. The remuneration of judges should be free from executive control. Pdf corporate governance regulation in nigeria researchgate. 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. Pdf introduction the contribution of the company law of nigeria to orderly regulation of business and economic affairs need not be.
Company law, ultra vires, unrestricted capacity, nigeria, united kingdom, ghana. Gower,1979, gowers principles of modern company law, 4th ed. The very first company law came up in nigeria in 1912. Acquire an understanding of the principles of common law system within the students own legal system and how it affects their business life. A company thus has legal rights and obligations in the same way that a natural person does. The same law got refined 5 years later in 1917 and it was then be able to cover all parts of nigeria.
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