JOHN INYANG OKORO, J.C.A. (Delivering the Leading Judgment): The grandfather of the Appellant Candido Da-Rocha entered into a lease agreement with National Bank of Nigeria Ltd for a term of 50 years commencing from 1st day of July, 1947 in respect of the property situate at No. 37 Marina, Lagos, known as Unity House. The interest of National Bank in respect of the lease was later transferred to the Respondent. The lease contains a clause which gives the Respondent the right to renew the lease for a period of 20 years after its expiration upon giving three months notice in writing to the Lessor. One of the terms in the lease is that the lessee shall pay the rent by yearly payment of Six Hundred pounds Sterling in advance. The rent payable for the renewal period was fixed for Eight Hundred pounds Sterling. By a letter dated 10th February 1997, the Respondent's Solicitor, Dr. F. A. Ajayi SAN, gave the required Notice to renew the lease, stating that he was doing so upon the terms and con…