ICAN Corporate and Business Law Notes
The legal rules that apply to companies, contracts and business dealings in Nigeria. This course follows the ICAN syllabus in 41 topics. All 41 are published, each with detailed notes, worked examples, exam tips and ICAN-style practice questions.
How this course is examined
How the marks are weighted
Seven syllabus areas, as a share of the 100 marks.
- The Nigerian legal and court systems5%
- Partnership, company and insolvency law35%
- Criminal law10%
- The law of commercial transactions35%
- Employment law5%
- The law of trusts and administration of estates5%
- Alternative dispute resolution5%
By the end of this course
What you will be able to do
Six skills you will have after working through this course.
- 01
Use Nigerian law
Explain the sources of Nigerian law, the hierarchy of the courts and the difference between civil and criminal law.
- 02
Form and run a business
Describe how partnerships and companies are formed, managed and ended, and how directors, shareholders and officers are regulated.
- 03
Handle insolvency
Explain receivership, charges, schemes of arrangement and the consequences of insolvency.
- 04
Apply criminal law
State the laws on theft, fraud, bribery and money laundering, and explain the accountant’s role as an expert witness.
- 05
Apply commercial law
Explain contract, agency, torts, sale of goods, hire purchase, insurance, banking and negotiable instruments.
- 06
Resolve disputes and estates
Explain employment law, trusts, the administration of estates and the main methods of alternative dispute resolution.
Topics in ICAN Corporate and Business Law
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About ICAN Corporate and Business Law Notes
These are the 41 Corporate and Business Law topics, in teaching order, across 8 syllabus sections. The first note is “Law and the sources of Nigerian law” and the last is “Application of information technology in business”. Reading them all takes about 13 hours. At an hour a day, that is about 13 days.
What you will learn
- Explain the sources of Nigerian law, how the courts work, and how digital evidence is treated (5% of marks)
- Form, run and wind up partnerships and companies under CAMA 2020 (35% of marks)
- Spot theft, fraud, bribery and money laundering, and explain the accountant as expert witness (10% of marks)
- Apply the law of contract, agency, torts, sale of goods, hire purchase, insurance and banking (35% of marks)
- Explain the rights and duties of employers and employees (5% of marks)
- Explain trusts, wills and how estates are administered (5% of marks)
- Compare ways to settle a dispute without going to court (5% of marks)
- Describe how businesses apply information technology
What ICAN asks most
These topics came up most often in the Pathfinder past questions mapped to these notes. A question that covers several topics counts for each one. Start here if you are short on time.
- Criminal law and business: law and ethics, theft, fraud and deception 10 questions
- Bribery, money laundering and the accountant as expert witness 10 questions
- Directors: appointment, status, duties and removal 9 questions
- Insolvency, receivership and charges 9 questions
- Law of torts: negligence, vicarious liability and passing off 9 questions
Frequently asked Questions about Corporate and Business Law
What is ICAN Corporate and Business Law?
The legal rules that apply to companies, contracts and business dealings in Nigeria. It is a Foundation level paper.
Are the Corporate and Business Law notes free?
Yes. All 41 topics are free to read online. You pay only to keep them as PDF and Word, which come in the course pack with the full question bank and marking guides.
Does the law paper cover CAMA 2020?
Yes. CAMA 2020 runs through the company law topics, from incorporation and directors to capital, insolvency and winding up. Partnership, contract, sale of goods and employment law each have their own topics.
How many topics are in Corporate and Business Law?
There are 41 topics in 8 syllabus sections, in teaching order. Each has a summary, worked examples, exam tips and practice questions.
Which section carries the most marks in Corporate and Business Law?
Two sections tie at 35% of marks each, so none dominates. Spread your time across all of them.
Can I practise with past questions?
Yes. Every topic has ICAN-style practice questions with marking guides. Where past ICAN questions exist, a Pathfinder section lists them by diet and year, so you can try the real thing.
What mark do I need to pass Corporate and Business Law?
ICAN papers are normally passed with 50%. Confirm the current rule on the official ICAN portal, because the Institute can change it.
Are the notes up to date?
They follow the ICAN Foundation level syllabus, so they are the same for every diet. Found a mistake? Tap Tell us on any topic and we will check it.
Are these notes from ICAN?
No. Accountants.ng is independent of ICAN. ICAN publishes the official syllabus, study text and past papers, so use our notes alongside them.
How do I study Corporate and Business Law without getting overwhelmed?
Take one topic at a time. Read it, try the practice questions, then check the marking guide. Move through the sections in order, and give extra time to the sections with more marks.