Legal Advisory on Energy (Oil, Gas, Power) & Natural Resources | Projects and Infrastructure at Banwo & Ighodalo.
𝐖𝐡𝐚𝐭 𝐘𝐨𝐮𝐧𝐠 𝐄𝐧𝐠𝐢𝐧𝐞𝐞𝐫𝐬 𝐒𝐡𝐨𝐮𝐥𝐝 𝐊𝐧𝐨𝐰 𝐚𝐛𝐨𝐮𝐭 𝐭𝐡𝐞 𝐋𝐚𝐰. Law constitutes the rules under which civilized individuals and communities live and maintain their relationships with one another. It includes all legislative enactments, recognized authorities and established remedies and controls for human action. Hence, for Engineers, knowing the basics of law and the regular intercourse that law would occasionally have with their practice, may be found very useful and enterprising. This is so because as an Engineer, some of your actions, or inactions, could have legal implications for your and for your business, or employer, with respect to collaborating with other industry experts, obtaining financing or undertaking client projects. You should know enough about the legal aspects of engineering practice to recognize when you need to take certain actions, when to do nothing, and when to ask for legal counsel. The following should therefore be noted: a. When you or your organization needs to have a contract with a financier, client or subcontractor, you may help with operational knowledge or guidance to help the lawyer prepare the contract. b. After a contract as been executed, your operational knowledge may be required to interpret certain terms in the contract which may relate to design, construction, manufacturing, or operations. c. Contracts contain personal and corporate liability provisions. Thus, young engineers would better off knowing how their actions or inactions may give rise to such liability and how same may be minimized. d. It is prudent for contractors to understand project-related permits, and applicable laws regarding their services and projects. These laws are always enforced, as is, by governmental authorities and ignorance of them is never an excuse. More so, although consulted lawyers would usually provide guidance with respect to rights and obligations, it is more prudent to have so basic knowledge about what is legally enforceable or otherwise. e. Lastly, certain legal terms would usually reoccur during the scope of your business, they include risk, breach, fraud, liability, dispute, reasonable and best endeavors, damages, negligence, amongst others. Having a great understanding about them may be useful for your practice. Wishing you the best in your careers. #engineers #projects #law #financing #careers