D. A. R. ALEXANDER, C.J.N. (Delivering the Leading Judgment): The plaintiff/appellant, by Originating Summons filed in the High Court of Lagos State, sought the determination of the following two questions-
"1. Whether the Defendant corporation has a right of pre-emption in respect of the residue of the term of years evidenced by Land Certificate No. 7147.
2. Whether the Defendant corporation has a right to demand payment of 5 per cent of the consideration or valuation of the land comprised in the title aforesaid upon the assignment of the same to the Plaintiff."
The facts relevant to the determination of the two questions are not in dispute, and are set out in the affidavit evidence before the High Court and in the judgment of the learned Judge. The land which is the subject-matter of the summons is Plot No. 2055 in Scheme 2 of the defendant/respondent's Apapa Development Scheme and is comprised in a Land Certificate (Exhibit AOWI) Title No. M07147 dated 16th May, 1968, and is otherw…