The facts briefly stated are that the Appellant had sued the Respondent in suit No. LD/130/95 at the Lagos High Court claiming the sum of N9,000,000.00 (Nine Million Naira) as damages for breach of contract or as its anticipated profit under an Agreement dated 7th October 1994 made between the Appellant and the Respondent and alternatively for injunction and specific performance. The parties filed and exchanged pleadings. After the hearing the learned trial Judge - Fafiade J., found in favour of the Appellant. Dissatisfied the Respondent appealed to the Court below which allowed the appeal, set aside the said judgment of the trial Court and dismissed the Appellant's suit hence the instant appeal.

The Appellant demanded for an upward review due to the downward slide of the Naira and wrote letters to this effect. Exhibit B, is the Agreement which speaks for itself. The Respondent contended that since there was no agreement there was no enforceable contract.