MAHMUD MOHAMMED, J.S.C (Delivering the Lead Ruling): This appeal arose from the decision of the court of Appeal, Benin Judicial Division given on 1st, July, 2005 in which the court dismissed, except for the award of general damages where the appeal was allowed by the reduction of the general damages from ₦5,000,000.00 to ₦2,000,000.00, the appeal brought by the Appellant in this appeal against the judgment of the High Court of Justice of Ondo State sitting at Akure.
The 2nd Respondent as a customer of the Appellant maintained two current Accounts at the Appellant's branch of the Bank at Akure in Ondo State. On his part, the 1st Respondent is the Chairman/Managing Director of the 2nd Respondent. On the request of the 2nd Respondent for credit facilities, the Appellant granted the 2nd Respondent an overdraft facility and a warehouse Refinancing facility. The two separate credit facilities were Secured by a Tripartite Deed of Legal Mortgage on the 1st Respondent's Mariatun House (Formerl…