News Formal

Agreements in property acquisition and development (5)

  • 📰 GuardianNigeria
  • ⏱ Reading Time:
  • 20 sec. here
  • 2 min. at publisher
  • 📊 Quality Score:
  • News: 11%
  • Publisher: 94%

South Africa News News

South Africa South Africa Latest News,South Africa South Africa Headlines

From the foregoing, where the terms of an agreement are written in clear, simple and straight forward language that it requires no interpretation, it is only to be accorded its grammatical meaning. It is the law that where the words employed by the maker(s) of a document are simple, plain and clear the only duty the Court has is to give the plain words their ordinary meaning without more. The Court does not possess the jurisdiction to construe a contractual document in a manner that will be more favorable to a party than what the document has strictly stated.

The parties are bound by the documents that they have freely and voluntarily subscribed to. The following words of Tobi JSC in ODUTOLA v. PAPERSACK NIG. LTD. All FWLR 1214 at page 1235 are instructive on this issue: “Parties to an agreement may mutually but wrongly come to an understanding as to the legal content of it. That notwithstanding, a Court of law can only interpret the agreement strictly in its legal content and arrive at a conclusion on the law and the law alone in respect of it.

It is equally important to mention the concept of novation of contract and what it entails. It is not a strange occurrence in law for parties to an agreement to vary the terms thereof by executing another one. Novation is one of the ways in which parties can vary the terms of their agreement. The Court in the case of ONEGBEDAN v. UNITY BANK PLC LPELR-22186 Pp. 23-24, paras.

 

Thank you for your comment. Your comment will be published after being reviewed.
Please try again later.
We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:

 /  🏆 1. in ZA

South Africa South Africa Latest News, South Africa South Africa Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Agreements in property acquisition and development - Part 4 | The Guardian Nigeria News - Nigeria and World NewsEnforcing Agreements: Generally, contracts are legally enforceable agreements, with the implication that where one party to a contract is of the opinion that the other party is not fulfilling his obligations created under the contract, the offended party can approach the Court to seek enforcement of the contract or receive monetary compensation in the form […]
Source: GuardianNigeria - 🏆 1. / 94 Read more »