EAGLE SUPER PACK (NIGERIA) LTD.
V.
ACB PLC.

(2006) JELR 49515 (SC)    

Supreme Court  ·  SC.86/1998 ·  8 Dec 2006 ·  Nigeria
 · 
Other Citations
Eagle Super Pack (Nigeria) Ltd. v. ACB Plc. (2006) 19 NWLR (Pt.1013) 20
CORAM
UMARU ATU KALGO JSC NIKI TOBI JSC GEORGE ADESOLA OGUNTADE JSC MAHMUD MOHAMMED JSC FRANCIS FEDODE TABAI JSC
Core Terms Beta
case
plaintiff
defendant
respondent
court of appeal
letter of credit
appeal
issues
uniform customs
documentary credit
breach of contract
general damages
sum of us
trial court
cross-appeal
oral agreement
confirmed letter of credit
instant case
raw materials
trial judge
issuance of a letter of credit
leading judgment
learned trial judge
orlu high court of imo state
ucp rules
uniform customs practice
applicable standby letters of credit
bank draft no.
coker jsc
consequential order
consideration of an award
contentious issues of the applicability of the ucp rules
defendant effect
documentary credit no. lrl
exhibit s
final appeal
foreign laws
form no. ic
imported goods
international documentary credit
number of letters
practice documentary credit
relevant facts of this appeal
said conclusion
said sum of us
such agent
summary of application
us dollars value of the letter of credit


OGUNTADE, J.S.C. (Delivering the Leading Judgment): The dispute out of which this appeal arose was between a bank and its customer. The appellant was the bank and the respondent the customer. At the Orlu High Court of Imo State, the respondent as the plaintiff claimed against the appellant as the defendant the sum of two million naira being special and general damages. The claim was in negligence and alternatively for breach of contract. The parties are hereinafter referred to as plaintiff and defendant in line with their description before the trial court. The dispute arose in this way. The plaintiff wanted to pay its overseas suppliers based in Japan the sum of US$16,180.00 for raw materials to be imported. It approached the defendant, its banker for the issuance of a letter of credit in favour of the Japanese suppliers.

In the month of December, 1986, the plaintiff through the defendant sourced from the second tier foreign exchange market the said sum of US$16,180.00 for which it …

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