Online Legal Clinic

Hello Dear Readers, We’re still on the ‘Lessons from Covid-19 Series. Here is another one. Mr. Johnson owns and runs a Restaurant in Ikeja, Lagos State. 6 (Six) months ago, some friends who are major stakeholders in the Entertainment Industry approached him to host a weekly event tagged “Dinner with my Celeb” at his Restaurant. They assured him that the event will bring more customers to his Restaurant and more customers means more money. As a SHARP Lagos man, he accepted, his customer base increased and in line with the projections, his profit also increased. He decided to expand, thus, he approached a Commercial Bank for Loan Facility for the purpose of expanding his Restaurant Business and carrying out innovations. He was availed a Loan Facility vide an Offer Letter, he signed the Offer Letter without showing it to his Lawyer. I almost forgot, he used his Property in Surulere as collateral/security for the facility. With the outbreak of Covid-19, he had to shut his Restauran

Hello Dearest Readers, I guess it’s in order to say; quite an age. We took a moment there, but we are back now and I want to believe, it’s back and better. How are we faring? And how did we fare during the lockdown? What did we do to maintain our sanity? Did anyone here get any palliatives? Please let’s talk in the comment section. These are indeed unusual times and no one, absolutely no one prepared for this, especially businesses.  It is consequent upon this that we activate our ‘Lessons from Covid-19’ series, it will run under the Mini-Series platform.  The ‘Lessons from Covid-19’ series is a compilation of short fictitious stories to drive home the intent of the series, which is to seek legal counsel for every business transactions. With the outbreak of Covid-19, a lot is happening in the Business World, obligations have become impossible to discharge, liabilities are emerging, Businesses are crumbling, Properties are being foreclosed. It’s a mess. Some of these issues