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 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...
Procedure for obtaining Expatriate Quota in Nigeria
The procedure to obtain Expatriate Quota in Nigeria is as follows: Application on the letter headed paper of the company addressed to the Permanent Secretary Federal Ministry of Interior, Old secretariat...
Advantages of SON registration in Nigeria
The Standard Organization (SON) of Nigeria is the body vested with the responsibility to make sure that products locally manufactured in Nigeria have the required level of satisfaction desired by the...
Difference between NAFDAC registration and SON registration
They are both acronyms that stand for different things. NAFDAC stands National Agency for Food and Drugs Administration and Control while SON stands for Standard Organisation of Nigeria. They are both...
When do I need a Money Lender’s License?
To operate a money lending business in Nigeria one must have a Money Lenders License. However it is not everyone who lends money in Nigeria that is a Moneylender or that requires the Money Lenders License....
Differences between a co-operative Society and an NGO/Foundation
Co-operative societies and Non-governmental organizations are often times mistaken to be one and the same, this is because they bear a lot of similarities. However there are a few striking differences which...
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