THE BRITISH AND FRENCH BANK LIMITED
V.
S. O. AKANDE (TRADING AS AKANDE BROS. & CO.)

(1961) JELR 80318 (HC)    
High Court  ·  Suit No. 1/220/61) [1961] 10 ·  26 Oct 1961 ·  Nigeria
 · 
Other Citations
(1961) All N.L.R.849
CORAM
Fatayi-Williams, J.
Core Terms Beta
plaintiffs
defendant
interest
section
land
security
evidence
order
overdraft
transaction
case
company
corporate body
equitable mortgage
governor
law
native lands acquisition law
provisions of this law
regulations
body of persons
deposit
overdraft facilities
provisions of section
subsection
title deed of his property
behalf of the plaintiffs
hold land
native lands acquisition ordinance
view
18th october
approval of the governor of the transaction
approval of the terms of the instrument
context of our law
deposit of exhibit
end of april
fatayi-williams j.
foreclosure of an equitable mortgage
foreclosure of the equitable mortgage
insurance policy
laws of nigeria
local government
memorandum of the terms of the deposit
operative societies
operative society
plaintiffs claim
plaintiffs of the title deed
such deposit
vol. iv of the laws of western nigeria

FATAYI-WILLIAMS J.(reading the judgment) The plaintiffs claim against the defendant is for foreclosure of an equitable mortgage given by the defendant in 1958 by the deposit with the plaintiffs of the title deed relating to his property situate at and known as No. sectionI/203, Idi Arere, Ibadan, as security for overdraft granted at Ibadan by the plaintiffs to the defendant at his request between 1958 and 1960.

Pleadings were ordered and duly filed.

According to the Statement of Claim the defendant requested the plaintiffs for overdraft facilities in 1958 and deposited the title deed of his property to secure the overdraft. The defendant was granted the aforesaid overdraft by the plaintiffs during 1958-60. By the end of April, 1960, the defendant became indebted to the plaintiffs for the sum of £869-18s-4d for which sum the plaintiffs obtained Judgment on 20th June, 1960. In his Statement of Defence the defendant averred that the title deed of his property was deposited with the plainti…

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