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