What are the sources of contract law?

The primary sources of contract law include the common law and statutory law. The common law is represented first by the decisions of courts. Second, the common law also includes, with a lesser status than court decisions, the Restatement (Second) of Contracts and books and articles written about contract law.

What are the most important sources of contract law?

What is Nigerian contract law?

For an oral contract to be valid there must be an offer, an acceptance, a legal consideration and an intention to be legally bound. The parties must have the legal capacity to contract because a person under 18 (eighteen) years of age cannot enter into a valid contract under Nigerian law.

What are the 4 source of law?

The four primary sources are constitutions, statutes, cases, and regulations. These laws and rules are issued by official bodies from the three branches of government.

Can a contract be made orally?

An oral contract is a type of business contract that is outlined and agreed to via spoken communication, but not written down. Although it can be difficult to prove the terms of an oral contract in the event of a breach, this type of contract is legally binding.

What are 5 sources of law?

The primary sources of law in the United States are the United States Constitution, state constitutions, federal and state statutes, common law, case law, and administrative law.

What are the two main sources of law?

According to Salmond, there are two main sources of law- formal and material. Formal sources are those from which law derives its validity and force, that is, the will of the State which is expressed through statutes and judicial decisions. He sub-divided the material sources into legal sources and historical sources.

Who is the author of Nigerian Law of contract?

*We acknowledge Prof. Itse Sagay SAN whose seminal text, Nigerian Law of Contract, is instrumental to the drawing of these Notes for free use by students of law. PART 1.

What makes a contract not enforceable in Nigeria?

It is not enforceable by law as it does not conform to the definition and the format that binds contracts under the contract law in Nigeria. Such a contract involves an agreement by the parties either in writing or oral agreement. This involves an exchange of promises.

Which is the most important source of Nigerian Law?

Nigerian Legislation: This is the most important of the sources of Nigerian law. This is because it is Nigerian legislation that gives life to other sources of law. It is the pillar upon which the Nigerian legal system rests. It consists of the exclusive list, concurrent list and residual list.

Why are the laws applicable in Britain also applicable in Nigeria?

The laws applicable in Britain were also applicable in Nigeria. 2. Nigerian Legislation: This is the most important of the sources of Nigerian law. This is because it is Nigerian legislation that gives life to other sources of law. It is the pillar upon which the Nigerian legal system rests.