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CaseLaw

Alade V. ALIC (Nig.) Ltd. (2010) CLR 12(m) (SC)

Judgement delivered on December 3rd 2010

Brief

  • Award of damages by trial court
  • Breach of contract
  • Liability of directors
  • Veil of incorporation
  • Terms of contract
  • Party who asserts a fact
  • Partnership

Facts

The appellant as plaintiff sued the respondents as defendants jointly and/or severally at Oyo State High Court. Ibadan claiming as follows: "The sum of N3,296,528.08 (Three Million, Two Hundred and Ninety-six Thousand. Five Hundred and Twenty Eight Naira, Eight kobo) as particularized hereunder being damages suffered as a result of the 1st defendant's breach about March, 1988 of partnership agreement entered into in Ibadan between the plaintiff and the 1st defendant on 1st July, 1987, and which breach was masterminded, procured and instigated by the 2nd defendant as agent of the 1st defendant in fraud (sic) of the plaintiff."

In proof of his case, the appellant called four witnesses and testifying himself as the fifth witness. He tendered six exhibits that is, exhibits "P1-P6." On the other hand, the respondents in defence of the suit, called three witnesses. The 2nd respondent testified as the 4th witness. Three exhibits, D1-D3 were also tendered.

Topic

At the end of the trial the learned trial Judge entered judgment in favour of the appellant and against the respondents jointly and severally for:

  • 1
    The of loan capital of N240,000.00 procured for the 1st defendant and guaranteed by the plaintiff through Marine and General Insurance Company Limited.
  • 2
    The Sinn of N70.000.00 (Seventy Thousand Naira) being the plaintiff's 40% agreed share of profits on business transacted with Kopek Limited between 1st December, 1987 to 18th February, 1988.
  • 3
    10% compound interest per annum on the N240,000.00 loan obtained from IBWA from 1988 up till today 10th June, 1991 and 5% interest thereafter until the total sum is paid.
  • 4
    Claim for damages is dismissed." The counter claim of the respondents was dismissed.

The respondents being dissatisfied with this judgment, appealed against same to the Court of Appeal, Ibadan Division on eight grounds. The Court of Appeal in a unanimous decision set aside judgment of the trial court and dismissed the appellant's claims.

The appellant was not satisfied; he has come on further appeal to this court.