<p><br></p><p><strong>KATSINA-ALU, J.CA.: (Delivering the Leading Judgment):</strong> This is an appeal against the decision of Sanyaolu. J. of the Federal High Court, Port Harcourt delivered on 21 July. 1995.</p><p> The respondent as plaintiff claimed against the defendant as follows:</p><blockquote> 1. An order of possession of the said vessel;</blockquote><blockquote> 2. The liquidated sum of ₦6,933,871.88k, being unpaid rental arrears, and over-draft granted to the defendant by the plaintiff at the defendant&#x27;s request, with interest thereon at the plaintiff&#x27;s current prime lending rate from time to time from 1st January. 1994 till judgment and thereafter total liquidation of the sum;</blockquote><blockquote> 3. An order of specific performance of the contractual obligation to obtain all requisite approvals; and</blockquote><blockquote> 4. Damages for breach of contract, loss of profit, as may be assessed; or in the alternative.</blockquote><blockquote> 5. The liquidated sum of ₦22,355,783.78k plus interest thereon at the plaintiff&#x27;s current prime lending rate from time to time from 1st January 1994 till total liquidation of the deb…</blockquote>