CONTINENTAL PHARMACEUTICALS LTD. V. SCANBECH (FRANK-BECH) DENMARK

ADEREMI, JCA (Delivering the Lead Judgment): The respondent who was the plaintiff in the court below, (High Court of Lagos sitting at Ikeja) (Coram Olorunnimbe J.) claimed against the appellant as defendant in that court the sum of N975,268.00 (nine hundred and seventy five thousand, two hundred and sixty-eighty naira) only equivalent of D192,140,197.81 being the unpaid balance of a set of Bills of Exchange payable to the respondent/plaintiff drawn on the defendant/appellant which bills when presented, were dishonoured. The said sum represented the principal sum due as at 24th June 1983. The interest thereon up to the date the writ was taken out amounted to DM 744,788.84. The sum of DM25,000.00 was also claimed as expenses of noting; thus putting the grand total at DM2,909,986.00 which by the endorsement on the amended writ of summons, is N975,268.00. The defendant/appellant counter-claimed against the plaintiff/respondent the sum of N9,300,000.00 (nine million three hundred thousan…