Learning Outcomes
At the end of the Course, students are expected to:
1. have the basic knowledge and understanding of the evolution, nature, forms and structures of companies;
2. tell how law steps in to regulate activities of and within companies;
3. describe the legal framework on the forms of business organisations in Nigeria and the procedures for their incorporation;
4. appreciate the legal basis for corporate power structure; understand the key stakeholders of companies and the legal processes for the alignment of their interests within the company;
5. comprehend the framework for raising capital by companies; the regulators of various forms of companies in Nigeria; and
6. appreciate the principles and procedures for the liquidation of companies.
Forms of Business Organization; Sole Proprietorship; Partnership; Incorporated Companies; Creation and Incidents. Formation of companies; Certificate of Incorporation; Pre –incorporation contracts; promoter’s liability. Memorandum of Association; Doctrine of Ultra – Vires; alteration of Memorandum and the Objects clause. Articles of Association; Contractual effect of Memorandum and Articles; Alteration of Articles. doctrine of constructive notice and in-house management. A prospectus; statement instead of prospectus; Remedies for Misrepresentation. Regulation of company matters: Corporate Affairs Commission (CAC), Securities and Exchange Commission (SEC).
- Teacher: Haruna Hassan