Commercial Law (105)
HELD:
"Where the authority of an agent is given by deed, or for valuable consideration, for the purpose of effectuating any security, or of protecting or securing any interest of the agent, it is irrevocable during the subsistence of such security or interest.
HELD:
"It is trite law that an effective ratification, as herein demonstrated, places all the parties in a position similar to that which they have occupied at the material time if the agent had had actual authority to perform the acts ratified.
HELD:
"In Bowstead on Agency, 12th Ed. Article 124 thereof, the learned author stated as follows:-
HELD:
"...Uwaifo, J.S.C. posited on the settled position of the law in Menakaya V. Menakaya (2001) 16 NWLR (Pt. 738) 203; that:
HELD:
"...See Lord Wright in the case of Vita Food Products Inc. V. Unus Shipping Co. Ltd (supra) at pages 521 - 523. The Supreme Court had in the case of Auto Import Export V. Adebayo (2005) 19 NWLR (Pt. 959) 44; explained what constitutes waiver thus:
HELD:
"Firstly, in the locus classicus of Nika Fishing CO. Ltd. V. LAVINA Corporation (2008) 35 NSCQR 1 at 40 -41; the Bill of Lading which was the contractual Agreement between the parties provided for a jurisdictional clause in the following terms: