A CRITICAL EXAMINATION OF THE BILL OF SALE LAW OF LAGOS STATE

Abstract

This article underscores the necessity for a transformation in Nigeria's secured credit system,
particularly concerning bills of sale legislation. The current bills of sale legislation in Nigeria is
criticized for being outdated, poorly constructed, and one of the less-utilized commercial laws
in the nation. Through the use of the doctrinal form of research, this article advocates for either
the elimination of the bill of sale or its overhaul to enhance effectiveness. Key suggestions
include updating language by replacing obsolete terms like ‘personal chattels’ with more
contemporary terms such as ‘commodities’ or ‘merchandise’. Furthermore, this article
recommends for training programs, especially for individuals in the mercantile industry, to
improve comprehension of bill of sale transactions. A national awareness initiative is also
recommended to inform the public about the intricacies and registration procedures associated
with bill of sale transactions.