<p><strong>IBRAHIM MOHAMMED MUSA SAULAWA, JCA (Delivering the Leading Judgment):</strong> The current appeal is consequent upon the judgment of the High Court of Akwa Ibom State, delivered on May 21, 2012 in the consolidated suits No. HU/383 and 384/2003. By the decision in question, the Court below entered judgment in favour of the Respondents [plaintiffs] and struck out the Respondents [Defendants] counter claim.</p><p>BACKGROUND FACTS</p><p>The genesis of the instant case dates back to October 28, 2003. That was the day the Respondents instituted the said suit in the Court below vide a writ of summons against the Appellants. By the [Amended] writ of summons and statement of claim thereof, filed on 08/04/04, the Respondents sought against the Appellants:</p><p>(1) An Order compelling the defendants to refund the sum of ₦5,667,500.00 paid by the plaintiff to finance the joint venture business in Econet Products together with interest at 2% calculated at monthly rests [sic].</p><p>Or Alternatively,</p><p>(2) An Order compelling the defend…</p>