SYNDICATED INVESTMENT HOLDINGS LTD
V.
NITEL TRUSTEES LTD & ANOR

(2014) JELR 39819 (CA)    

Court of Appeal  ·  CA/L/349/2013 ·  23 May 2014 ·  Nigeria
CORAM
JOSEPH SHAGBAOR IKYEGH Justice of The Court of Appeal of Nigeria CHINWE EUGENIA IYIZOBA Justice of The Court of Appeal of Nigeria SAMUEL CHUKWUDUMEBI OSEJI Justice of The Court of Appeal of Nigeria
Core Terms Beta
respondents
exhibit c2
learned trial judge
lower court
breach of contract
right of first refusal
31st august
second respondent
senior counsel
binding contract
acceptance form
enforceable contract
exhibit c1
advantage of the offer
executory contract
expiration of the stipulated time
paragraph h of exhibit c1
transaction costs
balance of the purchase price
full payment of the reserved bid
mtel staff pension fund
terms of the exercise
22nd day of november
full consideration
specific performance of the contract
2nd day of may
amana suits hotels ltd v
bid amount
bidding fee of n10,000
cab fails
case of metibaiye v narelli int
certified bank draft
commercial transactions
complete mockery of the bidding process
deposit of n36.1
facts of the case
judgment of dada j of the high court
lagos state
leading judgment
learned san
l ltd
number of properties
prof fidelis oditah qc
purchase exhibit d1
reserve price
said property
test of the existence of such mutuality

CHINWE EUGENIA IYIZOBA, J.C.A. (Delivering the Leading Judgment): This appeal is against the judgment of Dada J of the High Court of Lagos State in Suit No LD/401/2011 delivered on 22nd day of November 2012 dismissing the appellant's claim for damages for breach of contract.

The facts of the case are not in dispute. On Wednesday, the 2nd day of May 2007, the Respondents, who are a company in liquidation and the liquidator respectively, advertised a number of properties for sale, inviting bids for the same - Exhibit C1. One of the properties advertised for sale was 44 Gerard Road, Ikoyi (henceforth referred to as the property). Among the conditions for the bid were the following: (a) bidders were required to submit their bids within 30 days of the advertisement, i.e. by 2 June 2007; (b) bids were to be accompanied by a bidding fee of N10,000, a certified bank draft for 10% of the bid amount, and the bidders tax clearance certificate; and (c) sitting tenants had a right of first refusal…

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