MUHAMMAD, J.C.A. (Delivering the Leading Judgment): By a Deed of Legal Mortgage executed on 16/5/83 which has been registered with the Plateau State Lands Registry, the appellant mortgaged his landed property No. 12B Gboko Road, Tudun Wada, Jos covered by Certificate of Occupancy No. BP 1422 to the 1st respondent in consideration for a loan of N35,000.00. By a letter of commitment signed by the appellant, it was agreed that the purpose of the loan was to enable the appellant complete the building on the said property and rent it out. The loan was to be repaid from the rent proceeds in 5 equal yearly instalments commencing from January 1984. The appellant defaulted in repaying the loan. The 1st respondent wrote three demand notices to the appellant. Still the appellant failed to repay the loan. The 1st respondent then exercised its power of sale by virtue of Clause 6 of the Deed of Legal Mortgage and sold the mortgaged property to the 2nd respondent for N80,000.00.
Aggrieved by the sal…