IFEANYICHUKUWU TRADING INVESTMENT VENTURES LIMITED & ANOR V. ONYESOM COMMUNITY BANK LIMITED

OLUKAYODE ARIWOOLA, J.S.C. (Delivering the Leading Judgment): This is an appeal against the judgment of the Court of Appeal, Enugu Division delivered on the 28th day of October, 2004 Coram: Galadima, Adekeye, JJCA (as they then were) and Mika'ilu, JCA.

The appellants herein were the defendants/appellants at the courts below, while the respondent was the plaintiff/respondent. They shall therefore henceforth be referred to as appellants and respondent respectively.

The respondent had commenced an action before the trial High Court, Onitsha under the Undefended List. It had claimed, as endorsed on the Writ of Summons, as follows:

"N10,080,093.18 (Ten Million, Eighty Thousand, Ninety-Three Naira, Eighteen Kobo) with interest at the rate of Twenty-One per centum from 1st day of September, 2001, up to the date of judgment and at the rate of five per centum per annum"

Upon consideration of the respondent's application for the issuance of the specially endorsed Writ of Summons, the writ was s…