DELAY CAN ERASE YOUR LEGAL RIGHTS IN BUSINESS

DELAY CAN ERASE YOUR LEGAL RIGHTS IN BUSINESS

Did you know that there is a law in Nigeria called the Limitation of Action Law that applies to business and organizational claims?

It sets a legal time limit within which you must take action to sort out your business disputes either by court action/ADR, or else you will lose your right, no matter how strong your case is.

In simple terms, limitation of action means there is a deadline for suing. Once that time passes, you can no longer go to court, even if you are 100% right.

Even the court will tell you: you came late, and it cannot help you.

For most business-related matters such as breach of contract, unpaid debts or commercial disputes, the limitation period is 6 years.

If someone breaches a contract or owes your business money and you do nothing for 6 years, your right to sue may disappear.

This law does not care how much you lost. It does not care how solid your documents are.

If you “sleep on your rights” the law says: you are out of time. No remedy.

But there are exceptions. If fraud or mistake is involved, time may not start counting until you discover it.

So you see waiting too long is dangerous. You could lose money, assets and your right to justice.

But taking action early helps your business protect its rights and ensures the court can give you justice.

Delay in business issues is deadly. Act fast.
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APEX CHAMBERS, Law Firm of Property/Real Estate and Business/Corporate /Commercial Lawyers, Attorneys, Barristers, Solicitors Advocates, Legal Practitioners rendering legal services, Legal Consultants and Notary Public in Port Harcourt, Rivers State, Nigeria

Phone: +234(0)7030868694 (Calls & Whatsapp)
Email: info@apexchambersglobal.com
Website: www.apexchambersglobal.com