FABIYI, J.C.A. (Delivering the Leading Judgment): This is an appeal against the judgment of Ugwu, CJ. of Enugu State High Court, handed out on 18th March, 1998. Judgment was entered in favour of the Respondent and against the Appellant in the total sum claimed to wit:- N870,000 with N1,000 as costs including out of pocket expenses as well as 5% per annum interest on the judgment debt from 18/3/98 until the whole sum is liquidated.
For a proper and adequate consideration of the issues seriously at stake and canvassed in this appeal, the relevant and material facts must be assembled with some measure of considerable detail. Such facts are subsumed as follows "The Respondent herein filed his writ of summons under the undefended list on 12-1-98 claiming the sum of N870,000. He deposed to an affidavit in support of his claim. He averred that he had a series of business and other transactions with the Appellant. One of the transactions involved the sum of about N450.000 which the Appellant …