Wali, JSC (Delivering the Leading Judgment).: On the 28th day of November, 1988 after hearing learned counsel for the appellant in elaboration of the Brief of Arguments in support of the appeal, and without calling upon learned Counsel for the Respondent, the appeal was summarily dismissed and reasons for doing so were reserved to today. I now proceed to give my reasons.
By a specially Endorsed Writ taken out in the Lagos High Court under the provision of Order 3 Rules 4 and 5 of the High Court of Lagos State (Civil Procedure) Rules, the appellant as plaintiff claimed from the Respondent as Defendant as follows:
"STATEMENT OF CLAIM"
"1. The plaintiff drew a Bill of Exchange at Hamburg, Western Germany, dated 8th November, 1975, for DM 24, 703.40 with interest at the rate of 1 % per month payable to the plaintiff on 6th February, 1976, which said Bill the Defendant duly accepted.
2. On or about the 6th February, 1976, the plaintiffs agents in Lagos, the Union Bank of Nigeria Limited, Y…