OGBUAGU, J.S.C. (Delivering the Leading Judgment): This is an appeal against the decision of the Court of Appeal, Benin Division (hereinafter called the court below) delivered on 29th March, 2001, allowing the appeal by the defendant/respondent to it from the decision of the High Court of Ondo State holden at Akure per Adeloye - Chief Judge, on 25th March, 1996.
Dissatisfied with the said decision, the appellants who were the plaintiffs in the trial court, and also the cross-appellants in the court below, have again, appealed to this court on twelve (12) grounds of appeal.
Both in the amended writ of summons and paragraph 53 of the statement of claim, the appellants, claimed from the defendants/ respondents as follows:
(i) A declaration that the refusal of the defendant to open letter of credit required by the plaintiffs constitutes a breach of the investment and mortgage agreement between the plaintiffs and the defendant.
(ii) An order of specific performance, that the defendant sho…