SOCIETE GENERALE BANK OF NIGERIA LTD V. GENERAL MOTORS COMPANY LTD MR. TAJUDEEN TORIOLA MR. LOOKMAN TORIOLA

NDUKWE-ANYANWU JCA (Delivering the Lead Judgment): This is an appeal against three (3) rulings of the High Court of Lagos State sitting in Ikeja, delivered on 28 June 1998, by Hon. Justice Manuwa, on 13 August 1998, by Hon. Justice Adesanya, and on 15 October 1999, by Hon. JusticeAdesanya. Dissatisfied with the said decisions, the appellant has appealed to this court on 11 grounds of appeal.

The facts briefly stated are that the appellant, as plaintiff, filed a suit against the respondents as defendants, wherein the appellant claimed aliquidated sum of N151,966.48 (one hundred and fifty-one thousand, nine hundred and sixty-six naira, forty-eight kobo), being debt on credit facilities as at the close of account on 30 March 1990 plus interest on the said sum at 29% per annum from 1 April 1990 until the entire debt is liquidated. In the alternative, it prayed the court to grant it power of sale over the 2nd respondent’s property used as security for the credit facilities. In view of t…