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Onize Omewun

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The ELIX LLP Property Brief!
Before You Buy, Series I

Can you buy a property without seeing the original title documents?

Short answer: No.
Before paying for any property, ensure the title documents are produced and properly verified. Due diligence investigations/inquiries at the appropriate quarters can help uncover defective title, encumbrances, competing claims, litigation and government acquisition.

Remember you are buying a property and not legal troubles. Do your due diligence before making payment.
#ELIXLLP #propertybrief #BeforeYouBuy #PropertyLaw #realestate #NigerianLaw #propertyinvestment

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#BUSINESSMONDAY | EQUITY vs DEBT

Your business needs capital. Do you sell a piece of the business or borrow to grow?

#EQUITYFINANCING
Investor gets an ownership interest.
✔ No conventional repayment
✔ Potential strategic partner
✖ Possible dilution of ownership/control

#DEBTFINANCING
You borrow and retain ownership.
✔ No ownership dilution
✔ Greater control
✖ Principal + interest must be repaid

The bottom line:
Equity gives you capital + a partner.
Debt gives you capital + an obligation.

Choose wisely. Structure carefully.

#ELIXLLP #BusinessMonday #EquityFinancing #DebtFinancing #BusinessLaw #CommercialLaw #NigerianBusiness #LegalAdvisory

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#BUSINESSMONDAY | FOB vs CIF Contracts in Shipping

FOB (Free Onboard): Buyer arranges freight & insurance and assumes risk once goods are loaded on board.

CIF (Carriage, Insurance & Freight): Seller arranges freight & insurance to the destination port — but risk still passes to the buyer at the port of shipment.

FOB = Control
CIF = Convenience

📌 Always understand the Incoterm before signing your shipping contract.

#ELIXLLP #BusinessMonday #FOB #CIF #MaritimeLaw #ShippingLaw #NigerianLaw #InternationalTrade

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#BUSINESSMONDAY

#FRUSTRATION vs #FORCEMAJEURE

An unexpected event disrupts your contract. Does that automatically excuse your obligations?

Not necessarily.

#FRUSTRATION

A common-law doctrine that may apply where an unforeseen event makes contractual performance impossible or fundamentally different from what the parties originally agreed.
When established, the contract may be discharged by operation of law.

#FORCEMAJEURE

Usually arises from a force majeure clause in the contract.

The clause determines which events qualify and what happens when they occur: for example, suspension, extension of time or relief from specified obligations.

THE KEY DIFFERENCE

#Frustration may end/discharge the contract.

#ForceMajeure generally operates according to the contractual clause and may suspend or excuse performance.

Force Majeure events may include wars, natural disasters, government restrictions, other extraordinary events

But whether an event provides legal relief depends on the facts, applicable law and, especially for force majeure, the wording of the contract.

Don't wait for a crisis to discover that your contract has no adequate protection.

@elixllp
Attorneys • Arbitrators • Tax Consultants • Notary Public

#ELIXLLP #BusinessMonday #ContractLaw #Frustration #ForceMajeure #CommercialLaw #CorporateLaw #NigerianLaw #BusinessLaw #LegalInsights #ContractDrafting #Nigeria

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Anticipate the @elixllp @youtube Channel Podcasts! Subscribe to our @Youtube Channel @ELIX LLP TV

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NOVATION vs ATTORNMENT

NOVATION - Old contract → New contractual relationship
Example: New company assumes an existing debt with the consent of the relevant parties and the original debtor is released = Novation

ATTORNMENT - Existing relationship → New party recognised
Example: Landlord sells occupied property → tenant recognises buyer as landlord = Attornment

KEY TAKEAWAY:
Novation = Replacement
Attornment = Recognition

@elixllp
📧 info@elixlp.com
🌐 www.elixlp.com
📱 +234 906 312 3229

#ELIXLLP #BusinessMonday #Novation #Attornment #NigerianLaw #ContractLaw #CommercialLaw #PropertyLaw #LegalTips

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Happy Children's Day 2026.

#ChildrensDay

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We congratulate our Founding Partner Maduka Onwukeme MCIArb., ACTI., ACIS on his swearing in last month as a Notary Public of the Supreme Court of Nigeria by the Chief Judge of the High Court of Lagos State.

No doubt, this remarkable achievement is a further testament to our Founding Partner's distinguished legal career, professionalism, integrity and commitment to excellence in the last 15 years.

As a Notary Public, Maduka Onwukeme MCIArb., ACTI., ACIS joins the distinguished ranks of legal practitioners entrusted with the important responsibility of authenticating and certifying legal documents and transactions in accordance with the highest ethical standards.

Join us in celebrating this significant milestone and wishing him continued success in service to the legal profession, our esteemed clients and the society in general.

#Congratulations #NotaryPublic #LegalProfession #LawFirm

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Eid Mubarak!

#eidmubarak❤️ #Eid-Al-Fitr2026

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Celebrating International Women's Day 2026

#iwd2026 #givetogain

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