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SAMMANIN FATIHU GALADANCHI v. ABDULMALIK & ANOR

(2014) JELR 36338 (CA)

Court of Appeal  •  CA/K/218/2012  •  2 May 2014  •  Nigeria

Coram
ABDU ABOKI JCA; THERESA NGOLIKA ORJI-ABADUA JCA; ITA G. MBABA JCA;

Judgement

THERESA NGOLIKA ORJI-ABADUA, J.C.A. (Delivering the Leading Judgment): The record before this Court portrays that the parties agreed to enter into a business transaction wherein the Appellant would advance the sum of N42,632,755.00 (Forty Two Million, Six Hundred and Thirty Two Thousand, Seven Hundred and Fifty-Five Naira only) as capital to be invested in the business. It was further agreed that the expected profit of the business shall be shared by apportioning (one quarter) to the Appellant and 'be (three quarters) to the Defendants. The business transaction was executed as planned and profit was realized as anticipated to the tune of N30,357,645.00. It was averred in the Appellant's pleading that his share of 'bc portion then stood at N7,589,911.00, which not paid to him as agreed. Being vexed by that, the Appellant then proceeded to the Upper Sharia Court, Shahuchi on 1/7/2011 to lodge his claim. As a result, the Respondents were summoned by the Upper Sharia Court. Hearing was ho…

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