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PQ; Kure, Falilat and Adakuagreed to form and finance an estate company to be named KFA Limited. The company would have four other members. The

PQ; Kure, Falilat 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.

  1. __________________ A trial declared invalid for a variety of reasons such as the inability of a jury to reach a verdict, the death of a juror or counsel, or improper behavior by a juror or others involved in the trial.
  2. __________________ The party in a lawsuit who appeals the court's decision to a higher court, arguing that the lower court made a mistake that prejudiced the appellant, who now deserves a reversal of the conviction (or a change in the sentence if that is the issue).
  3. __________________ When a party in a lawsuit appeals the court's decision to a higher court, the party against whom this appeal is filed is called this.
  4. __________________ The standard of proof in criminal cases.
  5. __________________ An act by the legislature that condemns a person even though a judicial trial has not occurred. It is forbidden by the U.S. Constitution.
  6. __________________ In a legal case, the duty of proving a disputed fact.
  7. __________________ The aggregate of reported judicial decisions, which are legally binding court interpretations of written statutes and previous court decisions or rules made by courts in the absence of written statutes or other sources of law.
  8. __________________ In contrast to criminal law, this type of law pertains to rules that are concerned with private rights. The wronged person seeks compensation rather than criminal punishment through state prosecution.
  9. __________________ Reducing customs, unwritten laws, and rules to written statutes.

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