CHINWE EUGENIA IYIZOBA, J.C.A. (Delivering the Leading Judgment): This is an appeal against the judgment of the High Court of Oyo State, Ibadan Division in Suit No. I/1096/2010 delivered by Oyelaran J on the 14th day of June 2012 wherein summary judgment was entered against the Appellant and the 2nd Respondent jointly and severally as per the 1st Respondents Writ of Summons and Statement of Claim.
THE FACTS:
As set out in the 1st Respondents brief, a contract was entered into between the 1st and 2nd Respondents for the supply of 100 metric tons of Garri to the 1st Respondent by the 2nd Respondent at a total contract sum of N6, 100,000.00 subject to the terms and conditions of the offer. It was a term and condition of the offer letter that the 2nd Respondent will provide the 1st Respondent with a Performance Bond from a reputable Insurance Company for the due performance of the contract. Pursuant to the conditions stated in the offer letter, the 2nd Respondent submitted to the 1st Respon…