Ratio Decidendi



BALOGUN
V.
ACB LTD. & ORS

(1972) JELR 46131 (SC)    

Supreme Court  ·  SC.325/1969 ·  14 Jan 1972 ·  Nigeria
 · 
Other Citations
BALOGUN & 2 ORS. v. AFRICAN CONTINENTAL BANK LTD. (1972) 1 S.C. (REPRINT) 54
CORAM
IAN LEWIS Justice of The Supreme Court of Nigeria CHARLES OLUSOJI MADARIKAN Justice of The Supreme Court of Nigeria UDO UDOMA Justice of The Supreme Court of Nigeria Justice of The Supreme Court of Nigeria

Ratio Decidendi

Core Terms Beta
1st defendant
plaintiffs
learned trial judge
defendants
partner
3rd defendants
ore-ofe women fisheries company
contract
partnership
cheques
submission
fact
dispute
mr. sotubo
high court
mr. akinrele
12th edition
1.the 2nd
3.the 1st defendant
4.the defendants
5.the 2nd
agent of the association
agent of the said partnership
bank charges
behalf of the partnership trading
behalf of the trading concern
branch office
broad street
companies act
context of the whole of article
contracting party
current account
disclosed principal
favour of others
following terms
general rule
head office
inter alia
leading judgment
limited liability company
managing director
matter of fact mr. mcewen
mr. mcewen
notice of appeal
partnership business concern trading
sir i. lewis
status of the 1st defendant

SIR I. LEWIS, JSC (Delivering the Leading Judgment): In Suit No.LD/190/68, the plaintiffs' Statement of Claim read:-

"The Plaintiffs are Bankers incorporated as a Limited Liability Company under the Companies Act with their registered Head Office at 148, Broad Street, Lagos and registered Branch Office at 27/29, Martins Street, Lagos.

The defendants are Fish Sellers at 228, Bamgbose Street, Lagos carrying on their business under the Name of Ore-Ofe Women Fisheries Company.

1. On 26/3/63, the defendants opened a current account with the plaintiffs under the Name of Ore-Ofe Women Fisheries Company.

2. At the time of opening the account the three defendants were the only signatories to all the cheques drawn on the plaintiffs on behalf of the Trading Concern.

2a. The three defendants are the Managing Director, Directress and Secretary of the Trading Concern.

3. The defendants operated the account on credit basis until about 11/9/64 when the plaintiffs' General Manager approved a loan of …

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