<p>JOSEPH E. EKANEM, J.C.A. (Delivering the Leading Judgment): The respondent granted loan facilities to the 1st and 2nd appellants to the tune of Ten Million Naira (N10,000,000:00) each. The loans granted to the 1st and 2nd appellants were secured by collaterals, namely; title documents of the 3rd appellant&#x27;s land, Plot No.83869 (A) 32 Road C Close, Gwarinpa Estate, Abuja and Airport Road, Sabon Lugbe, which were deposited with the respondent.</p><p> The 3rd appellant (Managing Director/Chief Executive Officer of the 1st and 2nd appellants) gave a personal guarantee for the repayment of the loans. He also issued a post-dated cheque for Twelve Million Naira and signed a loan acknowledgement and transfer of title document.</p><p> Upon failure to repay the loan as agreed, the respondent took out a Writ of Summons in the undefended list against the appellants at the High Court of the Federal Capital Territory, Abuja Judicial Division, holden at Maitama in suit No. FCT/HC/CV/958/200 claiming as follows:</p><p> &quot;…</p>