Ratio DecidendiRatio DecidendiRatio DecidendiRatio DecidendiRatio DecidendiRatio DecidendiRatio DecidendiRatio DecidendiRatio DecidendiRatio DecidendiRatio DecidendiRatio Decidendi



OKOYE & ANOR.
V.
CENTRE POINT MERCHANT BANK LTD

(2008) JELR 49430 (SC)    

Supreme Court  ·  SC.176/2002 ·  11 Jul 2008 ·  Nigeria
 · 
Other Citations
Okoye v C.P.M.B Ltd. (2008)15 NWLR (Pt.1110) 335 S.C. (2008) 7-12 S.C. 1 (2008) 7-12 S.C. 1
CORAM
NIKI TOBI Justice of The Supreme Court of Nigeria GEORGE ADESOLA OGUNTADE Justice of The Supreme Court of Nigeria MAHMUD MOHAMMED Justice of The Supreme Court of Nigeria FRANCIS FEDODE TABAI Justice of The Supreme Court of Nigeria JAMES OGENYI OGEBE Justice of The Supreme Court of Nigeria

Ratio Decidendi

Core Terms Beta
learned trial judge
contents of affidavit of service
leading judgment
10-paragraph affidavit
judgment of the trial court
facts of this case
service of an originating process
matter of service of writ
issue of jurisdiction
grounds of appeal
writ of summons
court of appeal
finding of the learned trial judge
sufficient proof of service of the writ
customers of the defendant merchant bank
high court rules of anambra state
trial high court
service
onitsha judicial division of the high court of anambra state
said defendants-respondents
said sum
issues
court
affidavit of service
appeal
notice of appeal
trial court
appellants
evidence of service
six-paragraph claim runs
laws of the federation of nigeria
service of the writ of summons
named manager
issue of service
judgment of the learned trial judge
above reasoning
instant case shows
counsel
issue suo motu
prima facie proof of service
decision of the supreme court
briefs of argument
appellants' second issue
respondents fail
defendant
issue

F.F. TABAI, J.S.C (Delivering the Leading Judgment): This action was commenced at the Onitsha Judicial Division of the High Court of Anambra State on the 6/8/98, when the Writ of Summons was issued. The appellants herein were the plaintiffs. The respondent herein was the defendant. The six-paragraph claim runs thus:-

Claim

The plaintiffs are customers of the defendant Merchant Bank which carries on merchant banking business in big cities of Nigeria including Onitsha.

2. By confirmation notice given to the plaintiffs by the defendant, the defendant is indebted to the plaintiffs to the tune of ₦2,385,716.75 (Two Million, Three Hundred and Eighty Five Thousand Seven Hundred and Sixteen Naira, Seventy Five kobo).

3. The defendant merchant bank has failed to pay interest as agreed or at all.

4. The interest rate which is fixed at the rate of 15% per annum is usually withheld by the defendant and was only paid twice in recent years.

5. Despite repeated demands by the plaintiffs for the def…

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