ICAN Business Law 2020
Past Questions

Under Section 1(3) of the Constitution of the Federal Republic of Nigeria 1999 (as amended), what is the legal effect of any law that is inconsistent with the provisions of the Constitution?

In the context of Received English Law as a source of Nigerian law, Statutes of General Application (SOGAs) consist of English statutes that were in force in England on or before which cut-off date?

Which of the following statements correctly reflects the application of the doctrine of judicial precedent (stare decisis) within the Nigerian court hierarchy?

Under Section 245(1) of the Constitution of the Federal Republic of Nigeria 1999 (as amended), an appeal lies from decisions of a State Customary Court of Appeal directly to the Court of Appeal under …

Under the Nigerian Law of Contract, where a party enters into a contract as a direct result of actual physical violence or a threat of physical violence to their person, what is the legal status of th…

Kemi entered into a contract to hire a hall from Babatunde in Lagos for a public exhibition at an agreed price of ₦2,000,000. Kemi paid an advance deposit of ₦500,000. Two days before the event, the h…

The process whereby an existing contract is discharged by substituting it with a brand new contract, either between the same original parties or involving a new party with the consent of all parties c…

Chukwuma was engaged as an agent by Segun to negotiate the purchase of a commercial building. Chukwuma secretly purchased the building himself through a front company for ₦80,000,000 and resold it to …

Alhaji Bako entered into a Hire Purchase agreement for a commercial delivery van with a total Hire Purchase Price of ₦8,000,000. He paid a deposit and subsequent installments totaling ₦4,200,000, but …

An auditor audited the annual financial statements of ABC Plc. A third-party investor, relying solely on the audited accounts published in a national newspaper, purchased shares in ABC Plc and suffere…

In accordance with Section 275(1) of the Companies and Allied Matters Act (CAMA) 2020, what is the minimum statutory requirement for the number of independent directors in a public company?

Pursuant to Section 256(1) of the Companies and Allied Matters Act (CAMA) 2020, unless a company's articles of association provide a larger number, what is the default statutory quorum for a general m…

Under the general legal principles governing general partnerships in Nigeria, what is the correct legal status regarding a retiring partner's liability for partnership debts contracted prior to retire…

When an employer declares a redundancy under Section 20(1) of the Labour Act (Cap L1 LFN 2004), which statutory principle must be adhered to in selecting the individual workers to be discharged?

Under Section 11(2) of the Labour Act (Cap L1, LFN 2004), what is the statutory minimum period of notice required to be given by either party to terminate a contract of employment where the worker has…

Asejere Nigeria Limited operates a retail supermarket chain in Ikeja, Lagos. In November 2023, due to a printing error by an inexperienced store clerk, a high-capacity industrial generator was display…

QUESTION 1 Bisi & Sons Nigeria Ltd, a cocoa merchant firm in Ondo State, entered into a written contract with Eko Haulage Ltd to transport 1,000 bags of premium cocoa beans from Akure to the Apapa Po…

QUESTION 3 Mallam Garba, an uneducated sugarcane farmer in Kaduna State who can neither read nor write in English, was approached by Mr. Jude, an agent of Arewa Sugar Refineries Plc. Mr. Jude present…

Alhaji Garba entered into a written Hire Purchase agreement on January 10, 2022, with Keffi Finance Ltd to acquire a motor vehicle (commercial bus) valued at N15,000,000. Under the agreement, the tota…

QUESTION 3 Arewa Express Logistics Ltd is a haulage company operating a fleet of heavy-duty trucks across Nigeria. The company employed Danladi as a full-time driver. On May 10, 2023, Danladi was ins…