(2005) JELR 45295 (SC)    

Supreme Court  ·  SC.49/1997(2) ·  16 Dec 2005 ·  Nigeria
Other Citations
Auto Import Export v.Adebayo [2005] 19 NWLR (Pt.959)44
SYLVESTER UMARU ONU Justice of The Supreme Court of Nigeria ALOYSIUS IYORGYER KATSINA-ALU Justice of The Supreme Court of Nigeria GEORGE ADESOLA OGUNTADE Justice of The Supreme Court of Nigeria MAHMUD MOHAMMED Justice of The Supreme Court of Nigeria IKECHI FRANCIS OGBUAGU Justice of The Supreme Court of Nigeria
Core Terms Beta
3rd respondent
3rd defendant
4th defendant
2nd respondent
nigerian buyer
bills of exchange act
2nd defendant
bills of exchange
statement of claim
trial court
engineering company limited
4th defendants
1st respondent
spare parts
continental motors
1st defendant
further liability
high court
judgment of the trial court
proper construction of exhibit
romanian company
said sum
defence of waiver
mr. j. a. a. adebayo
price of motor vehicles
sum of n1
terms of the agreement
3rd defendant messrs a. obikoya
3rd respondent bank
agreed terms
agreement exhibit
course of the trial
date of judgment
description of parties
following conditions
further amended statement of claim
lagos high court
leading judgment
national bank of nigeria
payment of the agreed sum
pleaded facts
present 3rd respondent
recovery of the said amount
said sum of n1,089,743.50
sum due
virtue of a memorandum

OGUNTADE, J.S.C. (Delivering the Leading Judgment): The appellant, a Romanian company was the plaintiff at the Lagos High Court. It had on 14/11/79 issued its writ of summons against three defendants claiming for the following:-

"The plaintiff's claim against the defendants jointly and/or severally is for the sum of N1, 089,743.50 (US.$1,700,000.00) being the balance (plus interest) of the price of motor vehicles, spare parts and machinery (hereinafter called 'The goods') sold and delivered by the plaintiff in Lagos to Continental Motors and Engineering Company Limited now under the Management and Receivership of Mr. Basil Adenrele Adu liquidator (hereinafter called 'the 1st defendant') which said goods were by an agreement between the 1st defendant and the 2nd defendant transferred to the 2nd defendant for reward, the payment of which said sum of N1,089,743.50 (U.S$1,700,000) having been guaranteed by the 3rd defendant by virtue of a memorandum in writing dated the 20th May, 1975 bee…

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