Ratio DecidendiRatio DecidendiRatio DecidendiRatio DecidendiRatio DecidendiRatio DecidendiRatio DecidendiRatio Decidendi



LSDPC
V.
CITYMARK (WEST AFRICA) LTD.

(1998) JELR 45579 (SC)    

Supreme Court  ·  SC.27/1992 ·  10 Jul 1998 ·  Nigeria
 · 
Other Citations
L.S.D.P.C. v. Citymark (W.A.) Ltd. (1998) 8 NWLR (Pt.563)681 (1998) 7 S.C (Pt I) 59
CORAM
ABUBAKAR BASHIR WALI 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
appeal
court of appeal
stay of execution
applicant
judgment
judgment creditor
trial court
high court
judgment debt
bank guarantee
lower court
j.s.c
bank of credit
better conditions
20th day of april
brother iguh j.s.c
counter-affidavit
determination of the appeal
insurance company
purchasing power of the naira
real estate business
stay of execution of the judgment
such agreement
aforesaid judgment
aforesaid terms
briefs of argument
business of judgment creditor
combined effect of the above provisions of the law
confirmation of these facts
event of this court
exercise of the discretion
following conditions
following terms
formal order
grant of its prayer
half of the judgment debt
honourable court of appeal
joint names of the applicant
judgment creditor pay
lagos judicial division of the high court of lagos state
leading judgment
order of lower court
part of the judgment creditor
rules of this court
ruling of the learned trial judge
said decision
such money
variation of the said order

IGUH, J.S.C. (Delivering the Leading Judgment): On the 20th day of April, 1998. I dismissed this appeal and then indicated that I would give my reasons for so doing today. I now proceed to do so.

In suit No. LD/2123/87, the plaintiff on the 9th day of November. 1989, obtained judgment against the defendant in the Lagos Judicial Division of the High Court of Lagos State in the sum of ₦7,787,500.00 with ₦2000.00 costs. The defendant having appealed against the said decision moved the trial High Court for a stay of execution of the judgment pending the determination of the appeal. This application was on the 6th day of March, 1990 granted on the following terms-

"1. The amount of ₦7,787,500.00 (Seven Million. Seven Hundred and Eighty-Seven Thousand, Five Hundred Naira) be deposited by the applicant in an account to be opened with the Bank of Credit and Commerce International (Nigeria) Limited, Lagos in the joint names of the applicant and respondent on or before 6th day of April, 1990; t…

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