Principle Archive

A winding-up petition for inability to pay debt is not to be treated like a claim for payment of debt. It is simply winding-up of the…

Where a company has a serious counter-claim arising from the same contract, the claims must first be established in a normal case before a winding-up petition…

Where the debt is not paid within the time allowed and the debt is bona fide disputed, a winding-up order may not be made. The creditor…

Where the debt is bona fide disputed, the creditor must seek remedy in an action for recovery of the debt. Until the issue of the company's…

Section 408 of CAMA provides that a company may be wound up if it is unable to pay its debts. The essential ingredients are: (a) there…

A winding-up order will not be made on a debt which is disputed in good faith by the company.

State laws creating new local government areas are valid but cannot be operative or have full effect until the National Assembly makes the necessary amendment to…

Deeds of mortgage are securities of the same nature. Further advances do not cause merger unless intended. Exhibits D1 and 5 complement the original mortgage in…

A clear and unambiguous clause in a mortgage agreement permitting the bank to stipulate the rate of interest includes the power to charge compound interest. There…

Though a plan is not a sine qua non to identify land, there must be clear description to make the land ascertainable. The acid test is…

Each of the five ways of proving title to land is independent of the other. Where a party's case is based on production of documents of…

Recitals in deeds twenty years old at the date of the contract are sufficient evidence of the truth of such facts, unless proved inaccurate. This presumption…