ACHIKE, J.S.C.: (Delivering the Leading Judgment): The appellant, as plaintiff, sued the respondent, as defendant, for breach of contract claiming a total of ₦429,869.00 comprising special and general damages; the said breach of contract had arisen from defendant's failure to honour its loan agreement of ₦116,500.00 entered into with the plaintiff. The said loan of ₦116,500.00 was subsumed under the Agricultural Guarantee Credit Scheme Fund Act 1977 whereby the defendant was to grant the said loan to the plaintiff and which was to be guaranteed by the Central Bank of Nigeria. The loan was to be advanced in two instalments of ₦60,000.00 and ₦56,500.00. The first instalment had been fully disbursed while the second was only partially disbursed. The defendant withheld ₦30,000.00 of the ₦56,000.00 to off-set the previous overdraft granted to the plaintiff. Despite the plaintiffs denial of the arrangement between the parties whereby the defendant was to off-set the previous overdraft of ₦3…
PAN BISBILDER NIGERIA LTD
V.
FBN LTD.
(2000) JELR 43977 (SC)
Supreme Court 14 Jan 2000 Nigeria
Case
Key Passages 10
Citing Cases 55
BriefBot Summary
- The appellant sued the respondent for breach of contract, claiming damages for failure to honor a loan agreement. - The loan agreement was part of the Agricultural Guarantee Credit Scheme Fund Act 1977 and was guaranteed by the Central Ba
Case Details
Suit Number:SC.114/91
Judges:ABUBAKAR BASHIR WALI, JSC
EMMANUEL OBIOMA OGWUEGBU, JSC
OKAY ACHIKE SAMSON, JSC
UMARU ATU KALGO, JSC
EMMANUEL OLAYINKA AYOOLA, JSC
Counsel:Benjamin Enemeri, Esq. For Appellant
O.A. Omonuwa, Esq. For Respondent
Other Citations:Pan Bisbilder (Nig.) Ltd v. F.B.N. Ltd. (2000) 1 NWLR (Pt.642) 684 (2000) 1 S.C 71, (2000) 1 NWLR (Pt. 642) 684
There's more. Sign in to continue reading.
judy.legal is the comprehensive database of case law and legislation from Ghana, Kenya and Nigeria. Gain seamless access to over 77,000 cases, recent judgments, statutes, and rules of court.