Justice Chambers

THE RADIANT JUSTICE CHAMBERS, OBAFEMI AWOLOWO UNIVERSITY.  LEGAL NUGGETS⚖️ LIQUIDATION KEY TAKEAWAYS • The term liquidation in finance and economics is the process of bringing a business to an end and distributing its assets to claimants. • A bankrupt business is no longer in existence once the liquidation process is complete. • Liquidation can also refer to the process of selling off inventory, usually at steep discounts. • It is an event that usually occurs when a company is insolvent, meaning it cannot pay its obligations when they are due. As company operations end, the remaining assets are used to pay creditors and shareholders, based on the priority of their claims. General partners are subject to liquidation. FROM THE OFFICE OF THE DIRECTOR OF LITIGATION AND RESEARCH

THE RADIANT JUSTICE CHAMBERS, OBAFEMI AWOLOWO UNIVERSITY.  LEGAL NUGGETS⚖️   LACHES  ¶ Laches is an equitable defense that arises from the legal maxim _" Equity aids the vigilant and not the indolent”._ It prevents a plaintiff from obtaining legal relief where he or she waited too long to file a suit against the defendant without a reasonable reason.  ¶ Enforcing such right after an unreasonable delay can be viewed as prejudicial to the opposing party. This party may claim that the plaintiff had been “sleeping over his rights” and therefore such a right is no longer available to him since it is barred by laches.  ¶ Although both are equitable estoppel, it is important to note the difference between Laches and Acquiescence.  While Laches occurs when one party delays  without a reasonable excuse in bringing an action against an infringer of a right, Acquiescence arises where by his conduct or express words, the plaintiff  impliedly con...

THE RADIANT JUSTICE CHAMBERS, OBAFEMI AWOLOWO UNIVERSITY. LEGAL NUGGETS⚖️ DUE PROCESS  ¶ Citizens expect that the rights enshrined in the constitution will be applied to them fairly in countries with advanced legal systems. Due process outlines specifically, that the rights of accused individuals should not be violated.   ¶ Due process balances the power of law of the land and protects the individual from it. ¶ In criminal law, “due process” is designed to safeguard criminal defendants from passion and prejudice that might arise before a decent trial.   ¶ The Right to remain silent (Miranda Rights),  Presumption of innocence until proven guilty, Right to Counsel, and,  Proving beyond reasonable doubt They all fall under the same umbrella of due process in criminal law.    FROM THE DIRECTORATE OF LITIGATION AND RESEARCH.