1. Falilat, Kure and Adakuagreed to form and finance an estate company to be named KFA Limited. The company would have four other members. The three were given various procurement assignments. Kure, who was to buy a mini-estate for the proposed company, sold his estate in Ikeja to it at a profit of N10 million. Falilat bought a Cinema Hall on Lagos Island for the proposed company and got a personal discount of N2 million from the transaction due to his exceedingly great negotiation skills. After the incorporation of KFA Limited, Adaku learnt of the outcomes of the two transactions, and has approached you for advice. Required: Advise Adaku on the issues and remedies involved, with the aid of statutory provisions and decided cases.
2. __________________ Law that originates with the legislature in a written enactment.
3. __________________ Law that defines crimes and their punishments.
4. __________________ The attorney for the defendant in a legal proceeding.
5. __________________ A punishment philosophy that assumes that behavior may be controlled and criminal behavior prevented by the threat of punishment.
6. __________________ Rules and regulations made through proper procedures by agencies to which power has been delegated by a state legislature or, in the federal system, by the U.S. Congress.
7. __________________ Decisions based on one's judgment rather than legal rules. In criminal justice systems it can result in inconsistency but also in actions suitable for individual circumstances.
8. __________________ System that characterizes the U.S. court systems, consisting of a federal system and 50 state systems, which pass and enforce their own laws, along with municipal systems that make and enforce their own ordinances.
9. __________________ Constitutional principle that a person's life, liberty, or property cannot be deprived without lawful procedures.
10. __________________ The constitutional principle guaranteeing that the U.S. legal system shall not deny to any person or class of persons the same treatment as other persons or classes of persons in the same or similar situations. Of particular significance are the circumstances of race, ethnicity, religion, and gender.
11. __________________ A law that provides punishment for an act that was not defined as a crime when the act was committed or that increases the penalty for a crime committed prior to the enactment of the statute.
12. __________________ In contrast to written law, this type of law consists of legally binding rules derived from judicial decisions, customs, and traditions. Broadly defined, it refers to the legal system that began in England and was followed in the United States.
13. __________________ A serious offense such as murder, armed robbery, or rape.
14. __________________ A punishment theory and a sentencing goal, generally implemented by incarcerating offenders to prevent them from committing any other crimes.
15. __________________ A system in which the accused is presumed guilty and must prove his or her innocence.
16. __________________ The lawful exercise of authority, and the geographic area in which authority may be exercised.
17. __________________ The power of juries to ignore the evidence and acquit, even in the face of strong evidence supporting a conviction.
18. __________________ Acts morally wrong in themselves, such as rape, murder, or robbery.
19. __________________ Acts that are wrong because they are prohibited by legislation, although they may not be recognized by most people as morally wrong.
20. __________________ A crime that is less serious, punishable by a fine, probation, or a short confinement in a jail.