LEGAL REALITIES OF PRE-INCORPORATION CONTRACTS UNDER CAMA 2020
BEFORE THE COMPANY IS BORN: LEGAL REALITIES OF PRE-INCORPORATION CONTRACTS UNDER CAMA 2020 FAOLA DIVINE BRIGHT AICMC KEY ISSUES EXPLORED • Introduction • Definition of Pre-Incorporation Contract • The Common Law Position on Pre-Incorporation Contracts • Statutory Intervention • Conclusion INTRODUCTION In the dynamic landscape of Nigerian business law, the formation of a company marks a critical milestone, yet the journey often begins well before incorporation. Preincorporation contracts, entered into on behalf of a yet-to-be-formed company, play a pivotal role in laying the groundwork for future operations. However, these agreements come with unique legal complexities, as they straddle the line between entrepreneurial ambition and statutory com...