OGUNBIYI JCA (Delivering the Lead Judgment): The appeal at hand is against the decision of the High Court of Lagos State delivered on 24 June 2003. The plaintiff/respondent (hereinafter called the respondent) claimed against the defendants/appellant (herein called the appellants) jointly and severally at the lower court, the sum of $2,436,896.84 (two million, four hundred and thirty-six thousand, eight hundred and ninety-six dollars, eighty- four cents) (naira equivalent of N207,136,231.00 (two hundred and seven million, one hundred and thirty-six thousand, two hundred and thirty-one naira)) and interest thereon at the rate of 21 % per annum until judgment and thereafter at 4% per annum until full payment. The claim arose from payments for consignments of frozen fish exported bythe plaintiff to thedefendants which payment the plaintiff alleged was outstanding.
The respondent writ of summons dated 9 April 1998 was taken out and filed 17 April 1998 and accompanied by a statement of…