I.M.M. SAULAWA, J.C.A. (Delivering the Leading Judgment): This is an appeal against the judgment of the Lagos State High Court, which was delivered by the Hon. Justice Olateru-Olagbegi on March 31, 2006, in Suit No. LD/2247/02. By the said judgment, the claim of the Respondent (plaintiff) was granted in part, while the Appellants' counter-claim was equally granted in part. Dissatisfied with the judgment in question, the Appellants filed the instant appeal.
FACTS AND CIRCUMSTANCES SORROUNDING THE APPEAL:
On 23/10/2002, the Respondent filed a writ of summons and statement of claim in the lower court seeking the following two reliefs against the Appellants:
(a) The sum of N393,667,227.54 (Three Hundred and Ninety-Three Million, Six Hundred and Sixty-Seven Thousand, Two Hundred and Twenty-Seven Naira, Fifty-Four kobo) being the total outstanding balance of all credit facilities granted to the 1st Defendant by the Plaintiff and personally guaranteed by the 2nd Defendant as at 18th October,…