SUBERU
V.
AISL LTD & ANOR

(2007) JELR 80291 (CA)    

Court of Appeal  ·  CA/IL/58/2006 ·  12 Mar 2007 ·  Nigeria
 · 
Other Citations
(2007) 10 NWLR (PT 1043)
Suberu v. A.I.S.L. Ltd. [2007]10 NWLR (Part 1043)
CORAM
MUHAMMAD SAIFULLAHI MUNTAKA-COOMASSIE, J.C.A. (Presided and Read the Leading Judgment) TIJJANI ABDULLAHI, J.C.A. HELEN MORONKEJI OGUNWUMIJU, J.C.A.
Core Terms Beta
appellant
1st respondent
exhibit d2
exhibit d1
interest
1st defendant
trial court
learned trial judge
lower court
rate of interest
1st respondent's counter-claim
issue no.
trial judge
legal mortgage
main contract
2nd respondent
conditional agreement
current interest rate
deed of mortgage
effect of different interest provision
grounds of appeal
judgment of the learned trial judge
mortgage loan of n600,000.00
notice of auction
agreed interest rate
bank account no.6005096601
binding loan interest agreement
considered judgment
counter claim
court finds
favour of the defendant
following facts
further amended statement of claim
judgment of the high court of kwara state
kwara state
leading judgment
letter of offer no.4013020203
loan facility
main issues
money lenders law
notice of appeal
respect of the 1st issue
said plaintiffs
subject g
sum of n600,000.00
written document

MUNTAKA-COOMASSIE, J.C.A. (Delivering the Leading Judgment): This is an appeal against the judgment of the High Court of Kwara State of Nigeria holden at Ilorin coram, Bamigbola J. delivered on 03/03/06 wherein judgment is entered in favour of the defendant and dismissed the plaintiff's suit (save on the plaintiff's claim that the notice of auction of his mortgaged property is wrongful). The trial court also granted the 1st respondent's counter-claim.

The facts leading to this action are briefly thus:- The appellant, who was the plaintiff before the lower court took a loan facility from the 1st respondent, herein in the sum of N600,000.00. Before the loan was granted the 1st defendant wrote a letter to the plaintiff/appellant that reads thus:

"10th September, 1996.

S.A. Suberu,

Amusement Guest House,

Adamu Road,

Ilorin - Kwara State.

Dear Sir,

LETTER OF OFFER NO.4013020203

We are happy to inform you that a mortgage loan of N600,000.00 (Six hundred thousand naira only) repayable within 12 (twel…

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