Ratio DecidendiRatio DecidendiRatio DecidendiRatio DecidendiRatio DecidendiRatio DecidendiRatio DecidendiRatio Decidendi



ECHAKA CATTLE RANCH LTD.
V.
NIG. AGRIC. & COOP. BANK LTD.

(1998) JELR 45546 (SC)    

Supreme Court  ·  SC.134/93 ·  6 Mar 1998 ·  Nigeria
 · 
Other Citations
Echaka Cattle Ranch Ltd v. N.A.C.B. Ltd (1998) 4 NWLR (Pt.547) 526 (1998) 3 S.C 1
CORAM
IDRIS LEGBO KUTIGI Justice of The Supreme Court of Nigeria MICHAEL EKUNDAYO OGUNDARE 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
court
appellant
respondent
plaintiff
case
learned trial judge
16th may
want of diligent prosecution
chief morphy
mr. morphy
report of settlement
binang j.
interlocutory order of 2nd september
leading judgment
managing director
order of court
chairman of the plaintiff company
determination of the suit
ex parte
high court
inherent jurisdiction of the court
managing director of the appellant
mr. e.e.e. ita
ogoja high court
order of the court
single issue
trial
trial judge
alienation of the plaintiff
counter-claim
enter judgment
enugu court of appeal
exparte interim injunction
face of the said order of interim injunction
gold digging exercise
grant of interlocutory injunction
learned judge
next adjourned date
one set of facts
only delay
plaintiffs rights
secretary of the appellant
secured properties of the appellant
time of the institution of this suit

MOHAMMED, J.S.C.: (Delivering the Leading Judgment): On 19th April, 1982, Nigerian Agricultural and Cooperative Bank, the respondent in this appeal, granted a loan of ₦2,000,000,00 (Two million naira) to the plaintiff under certain terms and conditions signed by both parties to the agreement. On 23rd July. 1988, the respondent caused to be published in Nigerian Chronicle Newspaper it's intention to sell plaintiff's property held as security for the loan.

In order to stall the sale of it's properties by public auction, the appellant went to Ogoja High Court and claimed for the following reliefs:

"i. A declaration that the threatened sale or other alienation of the plaintiff's properties by the defendant or its agents will violate the plaintiffs rights under the agreement and be null and void.

ii. An injunction restraining the defendant by itself and or its agents or servants from selling or alienating the plaintiff's properties as the loan is not yet mature for payment.

iii. ₦5,000,00…

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