Ratio DecidendiRatio DecidendiRatio DecidendiRatio DecidendiRatio DecidendiRatio DecidendiRatio DecidendiRatio DecidendiRatio DecidendiRatio Decidendi



BANK OF IRELAND
V.
UBN LTD. & ANOR.

(1998) JELR 45592 (SC)    

Supreme Court  ·  SC.69/1994 ·  17 Jul 1998 ·  Nigeria
 · 
Other Citations
Bank of Ireland v. UBN Ltd. (1998) 10 NWLR (Pt.569)178 (1998) 7 S.C (Pt II) 189
CORAM
ABUBAKAR BASHIR WALI Justice of The Supreme Court of Nigeria IDRIS LEGBO KUTIGI Justice of The Supreme Court of Nigeria UTHMAN MOHAMMED Justice of The Supreme Court of Nigeria SYLVESTER UMARU ONU Justice of The Supreme Court of Nigeria ANTHONY IKECHUKWU IGUH Justice of The Supreme Court of Nigeria

Ratio Decidendi

Core Terms Beta
3rd party
defendant
third party
court
court of appeal
third party notice
high court
civil procedure
learned trial judge
edo state high court
honourable court
leading judgment
behalf of the third party
civil process act
fact of entry of appearance
order of this court
procedure of the supreme court
said subject-matter
third parties
third party notices
writ of summons
14days of the issue of the said notices
3rd party leave
alleged cause of action
benin high court
breach of the rules of court
chief debo akande
courts of the republic of ireland
declaratory order
ex parte
ex-parte motion
foreign currency
full appearance
judgment of the court of appeal
jurisdiction of this honourable court
learned trial judge ought
name of the third party
outside jurisdiction
plaintiff company
prevailing rules of the central bank of nigeria
proper place
proper procedure
rules of this honourable court
ruling of the high court
ruling of the trial high court
said irregularity
stage of proceedings
statement of claim
take notice
view of the provisions of order

KUTIGI, JSC (Delivering the Leading Judgment): Sometime in 1981, the plaintiff company entered into a contract with another company Kingscourt Construction Group (Export) Limited, Ireland for the supply of some products at an agreed price. The plaintiff was required to make an advance payment in the sum of $566,250.00 (US. dollars). In line with the prevailing rules of the Central Bank of Nigeria, the plaintiff was required to obtain a guarantee from a reputable bank abroad before the advance payment could be made. The plaintiff approached the defendant (Union Bank) its bankers, which then obtained the necessary guarantee from the Bank of Ireland, the 3rd party herein. The foreign currency was thereafter remitted by the defendant through the 3rd party to be paid over to the ultimate beneficiary, the Kingscourt Ltd., which had since failed in breach of its contract to supply any goods to the plaintiff. It had also failed to refund the money paid. Accordingly, the plaintiff issued a wri…

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