BAGE JCA (Delivering the Lead Judgment): This is an appeal against the ruling of the High Court of Lagos State, delivered by Hon. Justice K. O. Alogba, of the Commercial Division in suit No. LD/2124/2001 of 7 November 2003. The ruling was in favour of the 1st respondent, (as plaintiff in that court). By a summons for judgment dated 22 January 2002, the plaintiff (1st respondent) prayed for leave to enter judgment for plaintiff against the 1st defendant/respondent for the sum of N36,053,542.19k (thirty- six million, fifty-three thousand, five hundred and forty-two naira, nineteen kobo) with interest at 21% per annum from 2 July 2001 until judgment and payment. In support is a verifying affidavit dated 22 January 2002 to which documents marked exhibits 11 to 17 were annexed, as well as a further verifying affidavit dated 23 April 2002 to which document marked exhibit JP was annexed.
The appellant on 11 January 2002, then as the sole defendant, applied by motion on notice dated and file…