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NATIONAL INVESTMENT & PROPERTIES COMPANY LIMITED & ANOR Vs BANK OF WEST AFRICA LTD

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NATIONAL INVESTMENT & PROPERTIES COMPANY LIMITED & ANOR Vs BANK OF WEST AFRICA LTD

Legalpedia Citation: (1962-11) Legalpedia 75129 (SC)

In the Supreme Court of Nigeria

Holden at Lagos

Sat Nov 17, 1962

Suit Number: SC 478/1961

CORAM


ADEMOLA, JUSTICE SUPREME COURT

BAIRAMIAN, JUSTICE SUPREME COURT

TAYLOR, JUSTICE SUPREME COURT

BRETT, JUSTICE SUPREME COURT


PARTIES


NATIONAL INVESTMENT AND PROPERTIES COMPANY LIMITED AND ORS

APPELLANTS 


BANK OF WEST AFRICA, LIMITED (formerly BANK OF BRITISH WEST AFRICA, LIMITED)

RESPONDENTS 


AREA(S) OF LAW


BANKING LAW—MORTGAGE—REGISTRABLE INSTRUMENT—INTERPRETATION OF STATUTES- LAW OF EVIDENCE-ADMISSIBILITY OF EVIDENCE

 

 


SUMMARY OF FACTS

The defendant/appellant was sued by the plaintiff/respondent claiming for the three certificates which had been deposited by the 2nd defendant with it to a mortgage and was to execute a legal mortgage but never did and purported to assign the lease to the 1st defendant, after the bank had lodged the certificates with the Registrar of Title for a purpose.

 

 


HELD


The appeal of the defendants in the High Court of Lagos Suit No. 137/59 from the judgment of 12 December 1960 is hereby dismissed with two hundred guineas costs.

 

 


ISSUES


The learned trial Judge erred in law in admitting as evidence the document exhibit P.6., the said document being inadmissible by virtue of the provisions of the Land Registration Act.

that the learned Chief Justice erred in not treating the Bank’s letter as an admission; in failing to apportion the indebtedness and securites; in depriving Mansour of a defence open to him in law; in ordering specific performance without a finding of fact on the amount of the debt; and in not directing his mind to the issue whether Mansour was liable on the evidence as a guarantor “of any indebtedness of Ali Mansour and Sons Ltd. sued upon and if so for what amount”.

That the learned Chief Justice erred in holding that P.6 is the document referred to in para. 5 of the Statement of Claim (in its final form) which alleges that the memorandum was executed in or about March, 1956.

The learned Chief Justice erred in law in holding that a mortgagee who has failed to give notice of the mortgage to the re-gistrar within the time prescribed by section 58(2) of the Regist-ration of Titles Act could protect such interest by lodging a cau-tion or by registration thereof as an encumbrance.

The learned Chief Justice erred in law in failing to observe that the interest of a mortgagee created off the Register is not an in-terest which is capable of being protected by caution or by registration thereof as an encumbrance.

 

 

 


RATIONES DECIDENDI


REGISTRATION OF TITLES


The point to note is that the Titles Act (section referred to for short) is based on a different conception and has another aim; that can easily be seen by looking at section 48 and on to section 54, which protects the registered purchaser for value from unregistered interests affecting the estate of any previous registered owner. Per BAIRAMIAN F. J.

 

 


CASES CITED


Not Available

 


STATUTES REFERRED TO


The Registration of Titles Act

The Land Registration Act 1924

 

 

 


CLICK HERE TO READ FULL JUDGMENT 

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