BENDEL INSURANCE COMPANY PLC V. B.C.M. FINANCE & SECURITIES (NIGERIA) LTD
(1997) JELR 45436 (CA)
Court of Appeal
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CA/K/231/94
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23 Jan 1997
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Nigeria
Coram
UMARU ABDULLAHI JCA;
MAHMUD MOHAMMED JCA;
IBRAHIM TANKO MUHAMMAD JCA;
Appearances
O.O. Akpouwa; For Appellant
I. N. Buba (with him, Odigi) For Respondent
Judgement
<p>MOHAMMED, J.C.A. (Delivering the Leading Judgment): The respondent in this appeal as the plaintiff took out a writ of summons and claimed against three defendants jointly and severally including the appellant in the Kaduna State High Court the following reliefs:</p><p> 1. "(a) Money which became due and payable on or about 1-9-91 by the 1st, 2nd and 3rd defendants jointly and severally to the plaintiff being money N550,000.00 lent by the plaintiff to the 1st defendant on or about 13-6-91 and interest there on secured by the credit Bond No NBCB 12469 of 6-6-91 executed by 2nd defendant as surety, obligor or guarantor of the Loan in favour of the plaintiff N720,000.00k.</p><p> (b) Default interest at 5% of the principal sum (N550,000.00) per week (i.e. N27,000.00 per week) from 11-9-91 to 5-11-91... N220,000.00.</p><p> 2. Default interest at 5% of the principal sum (N550,000.00) per week (i.e. N27,000.00 per week) from 6-11-91 until the date of judgment.</p><p> 3. Interest at the rate of 10% of the judgment sum pe…</p>