Ratio DecidendiRatio DecidendiRatio DecidendiRatio Decidendi


(1998) JELR 45544 (CA)    

Court of Appeal  ·  CA/B/7/96 ·  3 Feb 1998 ·  Nigeria
Other Citations
Public Finance Securities. Ltd. v. Jefia (1998) 3 NWLR (Pt.543)
Public Finance Securities. Ltd v. Jefia (1998) 3 NWLR (Pt. 543) 602
OKAY ACHIKE Justice of The Court of Appeal of Nigeria SUNDAY AKINOLA AKINTAN Justice of The Court of Appeal of Nigeria RAPHAEL OLUFEMI ROWLAND Justice of The Court of Appeal of Nigeria

Ratio Decidendi

Core Terms Beta
warranty of the 2nd appellant
1st appellant
case of the respondent
learned trial judge
court of trial
writ of summons
2nd appellant
jurisdiction of the court
case file
service of the writ
leading judgment
briefs of argument
face of defence
record of proceedings
oral evidence
service of the writ of summons
said court
investment companies
allied matters act
judgment of the court
legal officer
aspect of the case
notice of intention
affidavit of the parties
honourable judge
trial judge
lower court
considered judgment
following terms
2nd defendant
undefended list
political crises
common sense
defence counsel
1st defendant
valid reason
general decline
delta state
contention of the appellants
lord denning m.r.
facts of this case
grounds of appeal
consent of plaintiff
bendel state high court
grounds of appeal of the appellants

ROWLAND, J.C.A. (Delivering the Leading Judgment): This appeal is from a judgment of Obi, J., sitting at the Warri Division of the Delta State High Court in Suit No. W/216/93 given on 15th April, 1994 wherein in an action brought under the undefended list by the respondent, he adjudged the appellants liable jointly and severally to pay the sum of ₦3,593,851.00 (Three Million, five hundred and ninety three thousand, eight hundred and fifty one naira) which sum was to attract 40% interest from 8th August, 1993 till 31st December, 1993, and a further interest of 15% from the last date till 15th April, and a further interest of 10% from 15th April 1994 until payment. The case of the respondent was that he made several deposit placements totalling ₦3,593,851.00 with the 1st appellant based on the assurance and warranty of the 2nd appellant, that upon maturity the respondent will be paid.

The respondent filed a writ of summons with an affidavit that the matter be placed on the 'Undefended L…

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