E. O. AYOOLA, JSC (Delivering the Leading Judgment): There are two appeals before us in this matter. One is by Saeby Jernstoberi Maskinfabric A/S, (the plaintiff in the High Court, respondent in the Court of Appeal and now the appellant in this appeal) from the decision of the Court of Appeal whereby the appeal of Olaogun Enterprises Ltd. (the defendant in the High Court, appellant in the Court of Appeal and respondent in this appeal) to that court from the decision of the High Court of Oyo State was partially allowed and the amount in which the respondent was adjudged liable to pay to the respondent was substantially reduced to DKR 159,514.00 from DKR 470,290.00, while the appeal was dismissed in regard to other aspects thereof. The other is a cross-appeal by the respondent from the dismissal of the rest of his appeal.
By the time the appeal and the cross-appeal reached this court, the facts have been fairly settled. It is now possible to state them briefly, drawing largely from the …