MOHAMMED, J.C.A., (Delivering the Leading Judgment): By a Legal Mortgage Deed executed on 20/3/93 between Adegboro Construction (Nigeria) Limited of No. 245 Ibrahim Taiwo Road, Ilorin, Kwara State as the borrower and Mr. Michael Adegboro also of No. 245 Ibrahim Taiwo Road, Ilorin as the surety on one part, and Societe General Bank (Nig.) Ltd. of No. 126/128 Broad Street, Lagos as the lending bank on the other part, Mr. Michael Adegboro (now deceased) in order to secure a loan of N80,000.00 granted to his company by Societe General Bank, agreed to mortgage his property, a house in which he and his wife and children lived to the Bank as security to ensure the repayment of the loan. However Mr. Adegboro died on 16/9/84 leaving the loan still unpaid while his wife and children who lived in the mortgaged property were not aware of the existence of the transaction with the Bank affecting the property. Meanwhile the Bank as unpaid mortgagee decided to exercise its right of sale under the Dee…
TAIWO
V.
ADEGBORO & ORS.
(1997) JELR 45437 (CA)
Court of Appeal 14 Jul 1997 Nigeria
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Case Details
Suit Number:CA/K/244/94
Judges:UMARU ABDULLAHI Justice of The Court of Appeal of Nigeria
JAMES OGENYI OGEBE Justice of The Court of Appeal of Nigeria
MAHMUD MOHAMMED Justice of The Court of Appeal of Nigeria
Counsel:Chief Bayo Ojo,Chief Lambo Akamnbi For Appellant
Appellant absent and unrepresented For Respondent
Other Citations:Taiwo v. Adegboro (1997) 11 NWLR (Pt.528)
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