SIMM COMPUTER RESOURCES LTD & ANOR
V.
FIRST INLAND BANK
YARGATA BYENCHIT NIMPAR, J.C.A.(Delivering the Leading Judgment): This appeal is against the judgment of HON. JUSTICE A. M. LIMAN sitting at the Federal High Court, Lagos delivered on the 1st July, 2013 wherein the trial Court entered judgment for the Respondent and dissatisfied with the said judgment, the Appellants filed an Amended Notice of Appeal dated 11th June, 2015 on the 15th June, 2015 setting out 2 grounds of Appeal.
Brief facts leading to this Appeal are that the Appellants a customer of the Respondent was offered a loan facility which they accepted on behalf of the 1st Appellant. The facility was to be secured by a Deed of Legal Mortgage over the 1st Appellant's property at No. 40, Old Ota Road, Orile Agege, Lagos. The legal mortgage was only perfected and registered at the Land Registry, Lagos two years after the draw down by the Appellants. An attempt to recover the loan made the Appellants to initiate an action against the Respondent by way of a Writ of Summons seeking t…