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CaseLaw

Habib Bank Nig. Ltd. V. Gift Unique Nig. Ltd. (2004) CLR 6(j) (CA)

Judgement delivered on June 17th 2004

Brief

  • Bankers tariff and guideliness
  • Government fiscal policy
  • Documentary evidence
  • Claim for Interest
  • Admission

Facts

This is an appeal against decision of the Kaduna State High Court of Justice, sitting in Kaduna. The plaintiff claimed against the defendant the sum of N605, 411.12 (Six hundred and five thousand, four hundred and eleven naira, twelve kobo) being the outstanding debt arising from N500, 000.00 (Five hundred thousand naira) overdraft facility granted to the defendant to enable it finance a contract awarded to it by the plaintiff. The overdraft, which was subject to payment of interest and other bank charges, was to be repaid within sixteen weeks. The defendant defaulted because the overdraft which was sought and obtained was to finance a contract of supply awarded it by the plaintiff and which contract was revoked on account of late supply or delivery. The plaintiff insisted on its right to cancellation notwithstanding the defendant's request for extension of time within which to deliver the goods. The defendant now resorted to installmental repayment, as it could not disposed of the goods with plaintiff's particulars inscribed on them.

The action was brought under undefended list. After service of the writ of summons on the defendant and during the pendency of the suit the defendant re-funded the sum of N540, 000.00 (Five hundred and forty thousand naira). The plaintiff's outstanding claim, which went to trial, was N263, 358.29 (Two hundred and sixty three thousand, three hundred and fifty eight naira twenty nine kobo)

TThe suit was later transferred from the undefended to the general cause list. Plead¬ings were consequently ordered and settled by the parties. Evidence was ad-duced by both parties whose counsel also addressed the court. Learned trial judge, Kurada, J., in a reserved and

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