LIMITATION LAWS UNDER THE NIGERIAN LEGAL SYSTEM: A CASE FOR LEGAL REFORM
In any given transaction, time, as a general rule, is of the essence unless otherwise excluded by law, nature of the transaction or by the parties thereto. Time stipulation in transactions is not only important in ensuring prompt performance of obligations but also relevant in terms of timely enforcement of rights that may arise thereunder. While time of performance often times, is expressly stipulated by parties, the period for the enforcement of rights arising thereunder is normally prescri...