Ratio DecidendiRatio DecidendiRatio DecidendiRatio DecidendiRatio DecidendiRatio DecidendiRatio DecidendiRatio DecidendiRatio DecidendiRatio Decidendi



PAN BISBILDER NIGERIA LTD
V.
FBN LTD.

(2000) JELR 43977 (SC)    

Supreme Court  ·  SC.114/91 ·  14 Jan 2000 ·  Nigeria
 · 
Other Citations
Pan Bisbilder (Nig.) Ltd v. F.B.N. Ltd. (2000) 1 NWLR (Pt.642) 684 (2000) 1 S.C 71
Pan Bisbilder (Nig.) Ltd v. F.B.N. Ltd. (2000) 1 NWLR (Pt. 642) 684
CORAM
ABUBAKAR BASHIR WALI Justice of The Supreme Court of Nigeria EMMANUEL OBIOMA OGWUEGBU Justice of The Supreme Court of Nigeria OKAY ACHIKE SAMSON Justice of The Supreme Court of Nigeria UMARU ATU KALGO Justice of The Supreme Court of Nigeria EMMANUEL OLAYINKA AYOOLA Justice of The Supreme Court of Nigeria

Ratio Decidendi

Core Terms Beta
parties
appellant
appeal
court of appeal
central bank of nigeria
guarantee agreement
learned trial judge
illegal contract
undue influence
breach of contract
part of the loan
high court
brother achike
contract of loan
loan agreement
appellant's cross-appeal
benefit of the guarantee
leading judgment
lower court
agreement of loan
cross-appeal
grounds of appeal
bilateral agreement
body corporate
enhancement loan
event of its contravention
previous overdraft
provisions of section
said judgment
said loan
trial court
aforesaid act
decision of the trial court
definition of the term
demerits of the issue of quantum
due trial
facts of this case
finding of the learned trial judge
illegality of either party estoppel
part of the loan agreement
reason of the collateral illegality
result of failure
review of the evidence
said breach of contract
second instalment of the loan
sets of issues
such capacity
total sum
undue influence of a banker

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…

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