CaseLaw
Pan Bisbilder (Nig) V. FBN Ltd (2000) CLR 1(c) (SC)
Brief
Facts
The appellant, as plaintiff, sued the respondent, as defendant, for breach of contract claiming a total of N429,869.00 comprising special and general damages; the said breach of contract had arisen from defendant's failure to honour its loan of N116,500.00 was subsumed under the Agricultural Guarantee Credit Scheme Fund Act 1977 whereby the defendant was to grant the said loan to the plaintiff and which was to be guaranteed by the Central Bank of Nigeria. The loan was to be advanced into low installments of N60.000.00 and N56,500.00. The first installment had been fully disbursed while the second was only partially disbursed. The defendant withheld N30,000.00 of the N56,000.00 to off-set the previous overdraft granted to the plaintiff. Despite the plaintiff's denial of the arrangement between the parties whereby the defendant was to off-set the previous overdraft of N30, 000.00 from the second installment of the loan, the learned trial agreed to divert part of the loan agreement to settle the plaintiff's previous outstanding overdraft.
After due trial, the trial court found and upheld the breach of contract and awarded to the plaintiff a total sum of N58,429.00 special damages with N600.00 costs
It is against the decision of the Court of Appeal that the appellant filed an appeal to the Supreme Court.