Managing Risk in Contracts: Nigerian Law Analysis

The article discusses the importance of managing risks in contracts under Nigerian law, particularly through liquidated damages and liability clauses. It explains the purpose of such clauses, the distinction between enforceable liquidated damages and unenforceable penalties, and the principles established by Nigerian courts.

The analysis references legal cases like Oyeneyin v. Akinkugbe and the English case Dunlop Pneumatic Tyre Co v.

New Garage to illustrate key points on the validity of pre-estimated loss figures in contracts.