NNAMANI, J.S.C. (Delivering the Leading Judgment): This suit which had a chequered history initially started in the Warri Judicial Division of the High Court of Bendel State as W/102/77. It was subsequently transferred to the Federal High Court, Lagos, on 20th April, 1978.
In the claim filed in the High Court, the plaintiffs (respondents herein) sued for N89,356.45 being total of charter fees owing by the defendants (appellants herein) in respect of tug and barges hired or let out by the plaintiffs to the defendants in 1976 at Warri. On the 14th November, 1978, the appellants (i.e. defendants) brought a counter-claim against the respondents (plaintiffs) in the following terms:
"The defendant (by counter-claim) in February, 1976 became liable to the plaintiff in the sum of N407,911.20 being damages suffered by the plaintiff when its merchandise conveyed for valuable consideration in defendant's lighter NB6 from Warri to Lagos became soaked with sea water and got broken, lost and deprec…