OBANDE OGBUINYA, J.C.A. (Delivering the Leading Judgment): This appeal germinated from the judgment of the High of Court Kwara State in Suit No: KWS/10/2008, Coram E. B. Mohammed, J. delivered on 23/07/2009, wherein the appellant's action was dismissed.
Flowing from the record of appeal and other processes filed, the facts of the case, which culminated in this appeal, are simple. The appellant and the respondent were the claimant and the defendant respectively in the lower court. Sometime in 2005, the appellant, a businessman, approached the respondent for a financial assistance of N50,000.00 to enable him augment his financial obligation regarding a contract he was executing in Abuja. The respondent acceded to the appellant's request on the condition that he pledged his Peugeot 504 SR. saloon car with registration number AZ 303 ABJ, Abuja, Engine No. 39374707 and chasis No. VF 3504MDIF3974707 as collateral security for the loan. The parties entered into a written agreement on 13/01/2…