UNITED WORLD LTD. INC.
V.
MOBILE TELECOMMUNICATIONS SERVICES LTD.
·
F.B.N. Plc v. Abba (1998) 10 NWLR (Pt. 569) 227
PATS-ACHOLONU (Delivering the Leading Judgment): The appellant a U.S based registered company engaged in newspaper publication and advertisement entered into a contract with the respondent a mobile telecommunication services company for the appellant to place 1/8 page advertisement as advertiser in a newspaper known as USA Today for the sum of 38,250 (Thirty eight thousand two hundred and fifty dollars) to be paid by the respondent within 30 days of signing of the contract. The money became due for payment on 1/7/93.
There was a clause in the contract for reference to arbitration. The respondent of the publication failed to pay even though there was lacked a clause that failure to pay within that time would attract 1.4% flat monthly interest rate. The appellant was forced to take out summons on 22/2/95 claiming the amount under the contract. The respondent on 7/3/95 entered a conditional appearance and the appellant filed summons for judgment under Order 10 of the High Court of Lagos …