What is a living Trust?
A Trust is a tripartite relationship between three parties, where one party gives rights over his assets to another party for the benefit of a third party. There are several types of Trusts which include a...
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What does the term “Limited Liability” mean?
At incorporation, it is required that every company be registered either as a private company or public company. Where a company is registered as a private company Limited by shares, the members of the...
What is a Will?
A willor testamentis a legal document by which a person, the testator, expresses their wishes as to how their property is to be distributed when they die. It states expressly the names of the persons who...
What is the benefit of writing a will?
One of the major reasons for a will is that the wishes of the testator is carried out upon his demise. A will been a testamentary document made during the life time of the testator, voices the mindset of the...
What is a Letter of Good Standing?
A Letter of good standing is a letter issued by a proper authority in a jurisdiction to verify that a corporation actually exists, has paid all its statutory dues, has met all filing requirements and...
What is a service Level agreement?
A service level agreement is a contract between a service provider and its client or customer on the standard of services to be provided by the service provider. An example in which a service Level agreement...
What are the services provided by a Finance Company in Nigeria?
A finance companyis a specialised financial institution that supplies credit for the purchase of consumer goods and services by granting small loans directly to consumers. The Central Bank of Nigeria (CBN)...
What is an employment contract?
An EmploymentContractis a legal document that outlines the terms of employmentbetween an employer and an employee. It is signed between an employee and an employer and It establishes both the rights and...
How do you set up a Trust in Nigeria?
A trust is where a person’s gives another party the legal right to manage the assets for a benefit of another person. A trust can be a property, a bond, stock, mutual funds or even stock. To set up a trust,...
How to change a Proprietor’s signature at the Corporate Affairs Commission in Nigeria
The procedure for changing a proprietors Signature on a Business Name Registration Form is as follows: Prepare an Affidavit stating why the proprietor intends to change his/her signature. This Affidavit must...
How to incorporate a church In Nigeria
The body charged with the responsibility of incorporating a church in Nigeria is the Corporate Affairs Commission (CAC). A church is usually incorporated with registered Trustees who are the persons that...
How to legally close up a company that is no longer doing business
Closing a company is usually referred to as dissolution and this can be done through members voluntarily winding up the company. The assets of the company are distributed to the creditors if any and among...
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