Ratio DecidendiRatio DecidendiRatio Decidendi



INTERCITY BANK PLC
V.
FEED & FOOD FARMS NIG. LTD

(2001) JELR 57824 (CA)    

Court of Appeal  ·  CA/K/208/2000 ·  5 Jul 2001 ·  Nigeria
CORAM
MAHMUD MOHAMMED, JCA VICTOR AIMEPOMO OYELEYE OMAGE, JCA

Ratio Decidendi

Core Terms Beta
court
power of sale
plaintiffs
deed of legal mortgage
learned trial judge
order
interlocutory injunction
2nd respondent
grounds of appeal
present case
right of the mortgagee
unpaid mortgagee
lead judgment
current account
grant of interlocutory injunction
order of injunction
second issue
supreme court
trial court
1st respondent’s certificate
2nd respondents
2nd respondent’s landed property
account of the disputed accounts
arguments of counsel
case hook
circumstance of this case
court order
due determination of this suit
exercise of discretion
exercise of the discretion
exercise of the power
following issues
following reliefs
honourable court
kano branch
kano high court
landed property
legal costs
notice of appeal
principal sum
prior notice
public auction
r. d. m uham mad
respect of interlocutory application
respect of its premises
sale of the 3rd plaintiff
third respondent
virtue of the deed of mortgage
yaya mumuni

R. D. M UHAM MAD, JCA (Delivering the Lead Judgment): Mr.

Mahfouz, Fawaz the third respondent herein is the joint Chairman of the 1st and 2nd respondents who are both duly incorporated limited liability companies. Sometimes in 1996 the 2nd respondent opened a current account with the appellant at its Kano Branch. The appellant then granted a loan

facility of N3,000,000 (Three million naira) to the 2nd respondent. The

facility was secured by the 2nd respondent’s landed property situate at No. 15, Batawa Close, Kano. The 3rd respondent as Chairman of the 1st respondent also deposited the 1st respondent’s certificate of occupancy in respect of its premises in Bauchi to the appellant. Things did not go well between the appellant and the respondents. The appellant decided to exercise its power of sale by virtue of the deed of mortgage created over No. 15, Batawa Close, Kano. It advertised to sell the house in several media houses. As a result the respondents as plaintiffs instituted an action…

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