ADEYO
V.
GLOBAL INVESTMENT BANK LTD.

(2002) JELR 51049 (CA)    

Court of Appeal  ·  CA/A/38/2001 ·  13 Nov 2002 ·  Nigeria
CORAM
DAHIRU MUSDAPHER, JCA (Presided) ZAINAB ADAMU BULKACHUWA, JCA ALBERT GBADEBO ODUYEMI, JCA (Read the Lead Judgment)
Core Terms Beta
plaintiff
defendant
documents
deed of legal mortgage
exhibit p11
counter-claim
learned trial judge
tundekola ltd.
30th september
30th june
legal mortgage
lower court
exhibit p4
kolade ajayi
certificate of occupancy no. fct
mr. kolade ajayi
tundekola nigeria limited
letter of consent
plaintiff’s property
totality of the evidence
evidence of dw1
plot no.
deed of guarantee
grant of right of occupancy
order of court
said deed of tripartite legal mortgage
said kolade ajayi
tripartite deed of legal mortgage
consideration of exhibit p1
consideration of exhibits p16
credit facilities
customer of the respondent bank
dated 30th september
deed of tripartite legal mortgage
end of the trial
exhibit p3
facts of the case
following features
high court of the federal capital territory
lagos state government
lead judgment
learned trial court
legal effect
letter of same date
marked deed of legal mortgage
original of the certificate of occupancy no. fct
plaintiff’s offer
signature of mr. kola ajayi
signed copies
subsequent statement of claim

ODUYEMI, JCA (Delivering the Lead Judgment): The facts of the case leading to this appeal are briefly thus -

A company called Tundekola Nigeria Limited, whose Managing

Director and alter ego , one Kolade Ajayi (now deceased) was a customer of the respondent bank. The company sought and obtained credit facilities from the respondent bank. The appellant, brother-in-law to the said Kolade Ajayi, at the instance of the company, entered into a deed of guarantee with the respondent bank for the repayment of the debt secured by the deed of guarantee. The company defaulted in repayment. The Managing Director of the company also died suddenly. When the respondent bank failed to get the company to repay, the respondent bank called for repayment from the appellant/guarantor who also failed to pay. The respondent bank then threatened to enforce the security under the guarantee. The appellant as plaintiff thereupon caused a writ of summons to issue in the High Court of The Federal Capital Territ…

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