OKORONKWO JCA (Delivering the Lead Judgment): The facts that form the background of this appeal can be retold thus:- One J. A. O. Obadeyi in his life time acquired property situate at Samonda on the Mokola - University of Ibadan Road by virtue of a deed of conveyance dated 27 September 1957 and registered as No. 19 at page 19 in volume 221 of the Lands Registry office at Ibadan. Upon the acquisition, the purchaser aforesaid began the development thereof by building a storey building thereon where he lived and a store house and office block for his business and laid out some twenty plots of vacant land each measuring 50" by 100". For purposes of his business, J. A. O. Obadeyi granted a mortgage of the said property to the Western Nigeria Finance Corporation to secure a loan at £15,000.00 (fifteen thousand pounds) by virtue of a deed of legal mortgage dated 20 March1959 and registered as No. 6 at page 6 in volume 315 of the Register of deeds at Ibadan.
Subsequently, a further sum of £2…