AKINTAN, J.C.A. (Delivering the Leading Judgment): The appellant is a commercial bank, with branches in many parts of the country, including Ibadan. The respondents were the plaintiffs in this action instituted at Ibadan High Court on 6/4/94 as Suit No. I/495/94, while the bank was the defendant. The first respondent was a businessman, trading under the name and style of Asaniaye Trading Stores, and he maintained a bank account at an Ibadan branch of the appellant bank. The second respondent is the father of the first respondent, and he is the owner of the house at SW4/736 Asaka's Compound, Oke-Foko, Ibadan.
The 1st respondent, sometime in 1986, approached the appellant bank, for a loan to finance his business operations. The bank obliged him, but the 1st respondent had to give a security for the loan. The 2nd respondent surrendered the title deed of his house, at SW4/736 Asaka's Compound, Oke-Foko, Ibadan, to his son, the 1st respondent, so that it could be used as security for the l…