judy.legal
Login Register

NEKA B.B.B. MANUFACTURING COMPANY LTD. V.AFRICAN CONTINENTAL BANK LTD.

(2004) JELR 47785 (SC)

Supreme Court  •  SC.32/1997  •  16 Jan 2004  •  Nigeria

Coram
IDRIS LEGBO KUTIGI JSC; SYLVESTER UMARU ONU JSC; ANTHONY IKECHUKWU IGUH JSC; SAMSON ODEMWINGIE UWAIFO JSC; IGNATIUS CHUKWUDI PATS-ACHOLONU JSC;

Judgement

PATS-ACHOLONU, J.S.C. (Delivering the Leading the Judgment): The appellants as plaintiffs had obtained a loan from the Nigerian Building Society by using the title deeds of two of their directors as collateral. The respondents as defendants redeemed the loan facility hitherto granted by the Nigerian Building Society and retained the title deeds formerly in the possession of the Nigerian Building Society as security. The appellants claim that later they paid their indebtedness to the respondents and demanded the return of the title deeds of their directors which were being detained as claimed by the appellants. From time to time the appellants demanded the return of the documents from the respondents as they stated that they had good offers for a loan from the Union Bank and other financial institutions. The appellants said that when it appeared that the respondents were unable to trace the whereabouts of the documents after what the latter claimed was an extensive search, the responde…

There's more. Sign in to continue reading

judy.legal is the comprehensive database of case law and legislation from Ghana, Kenya and Nigeria. Gain seamless access to over 20,000 cases, recent judgments, statutes, and rules of court.


Get started   Login