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UWA PRINTERS (NIG) LIMITED VS INVESTMENT TRUST COMPANY LIMITED

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UWA PRINTERS (NIG) LIMITED VS INVESTMENT TRUST COMPANY LIMITED

Legalpedia Citation: (1988-12) Legalpedia (SC) 64506

In the Supreme Court of Nigeria

Fri Dec 9, 1988

Suit Number: SC. 217/1986

CORAM


NNAMANI JUSTICE, SUPREME COURT

KARIBI-WHYTE JUSTICE, SUPREME COURT

AGBAJE JUSTICE, SUPREME COURT


PARTIES


UWA PRINTERS (NIG.) LIMITED

APPELLANTS 


INVESTMENT TRUST COMPANY LTD.

RESPONDENTS 


AREA(S) OF LAW


 

Tayo Oyetibo for the Appellant

Dr. M. Odje, SAN (with him Miss .B Odeyand Charles Ogon ) for the Respondent.

 


SUMMARY OF FACTS

In 1976, the Plaintiff company contacted the defendant company for a loan of N420,000.00 to set up a printing factory. At the request of the defendant company Plaintiff company submitted a feasibility report. As a result of this report the defendant company offered to grant to the Plaintiff company a loan of N420,000.00 for the venture subject to the conditions stipulated in the offer. The offer was accepted by the Plaintiff and after satisfying all the conditions therein; the defendant refused and failed to honour its own side of the obligations. As a result of that breach the Plaintiff instituted an action.

 


HELD


APPEAL DISMISSED

 


ISSUES


Not Available

 


RATIONES DECIDENDI


CIRCUMSTANCES WHERE THE APPELLANT WOULD REVIEW THE AWARD OF DAMAGES


“The principles upon which an appellate Court will act in reviewing an award of damages are now well settled and can be summarised as follows. An appellate Court is not justified in substituting a figure of its own for that awarded by the lower court simply because it would have awarded a different figure if it has tried the case at first instance. Before the appellate court can properly intervene, it must be satisfied either that the judge, in assessing the damages, applied a wrong principle of law such as taking into account some irrelevant factor or leaving out of account some relevant factor, or that the amount awarded is either so ridiculously low or so ridiculously high that it must have been a wholly erroneous estimate of the damage.” PER WALI J.S.C

 


CASES CITED


Not Available

 


STATUTES REFERRED TO


Not Available

 


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