(1998) JELR 45574 (CA)    

Court of Appeal  ·  CA/L/61/94 ·  3 Dec 1998 ·  Nigeria
Other Citations
A.C.B. Ltd. v. Adebesin & Co. Ltd. (1999) 1 NWLR (Pt.585)
A.C.B. Ltd. v. AdebesinCo. Ltd. (1999) 1 NWLR (Pt. 585) 13
DAHIRU MUSDAPHER Justice of The Court of Appeal of Nigeria IGNATIUS CHUKWUDI PATS-ACHOLONU Justice of The Court of Appeal of Nigeria OKWUCHUKWU OPENE Justice of The Court of Appeal of Nigeria
Core Terms Beta
learned trial judge
safe keeping
2nd respondent
special circumstances
chief williams
leading judgment
appellant bank
award of damages
special damages
1st respondent
date of maturity
deed of mortgage
defendant appellant
general damages
learned counsel
1st plaintiffs
1st respondent of the nature account
above principles
accounts nos
appellant of further obligation
court hold
credible evidence
cross appeal
financial losses of immense magnitude
following information
greatest respect of the view
grounds of appeal
legal mortgage of the 2nd plaintiffs property
life insurance policies nos
live accounts
ogun state
operation of the first plaintiff
outstanding money
pivot of the case of the parties
plaintiff title deeds
proper account
request of the 1st plaintiff
respondents story
result of the negligent act of the defendant
said agreement
securities exhibits tt-tt1
title deed
whole case of the respondents

IGNATIUS CHUKWUDI PATS-ACHOLONU, JCA (Delivering the Leading Judgment): The Plaintiffs/Respondent claimed from the Defendant Appellant as follows in their pleadings

(a) A declaration that the defendant's refusal to release the charge on plaintiffs' property at plot 4, Block LXVI, Ilupeju scheme Layout Ikeja which was mortgaged to the defendant under a deed of mortgage dated 29th December, 1971 and registered as No. 50 at page 50 in Volume 1381 of the Lands Registry in Lagos and to release the title deed thereof from December, 1973 to 6th August, 1981 is wrongful.

(b) A declaration that the defendant's refusal to release to the plaintiff title deeds covering properties at 38 Ikorodu Road, Igbobi, 18 Alli Balogun Avenue, Industrial Estate, Ikeja, 35 Breadfruit Street, Lagos and life insurance policies Nos. 62366 and 683174 from 1973 to 6th August, 1981 is wrongful.

(c)N25,000,000.00 (Twenty-five Million Naira) and 10% interest on the value of the promissory note dated 6/6/83 from the d…

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