WALTER SAMUEL NKANU ONNOGHEN, J.S.C (Delivering the Leading Judgment): This is an appeal against the judgment of the Court of Appeal Holden at Jos in appeal No.CA/J/13/98 delivered on the 12th day of July, 1999 in which the court dismissed the appeal of the appellant and affirmed the judgment of the High court of Adamawa State, sitting in its appellate jurisdiction, in suit No. ADSY/28A/98 delivered on the 4th day of December, 1996.
The facts of the case include the following:-
Sometime in 1993, a company known as Road Construction Company of Nigeria Limited, based in Numan went into liquidation as a result of which its equipments were put up for sale. The 1st respondent, a customer of the appellant at its Yola Branch, obtained a loan of ₦1.5millon (₦1,500,000,00) from the appellant for the purchase of the equipments of the liquidated company out of which the sum of N1 millon (₦1,000,000.00) was paid over to the said company while the balance of five hundred thousand naira (₦500,000.0…