CORAM
BIOBELE ABRAHAM GEORGEWILL
ABIMBOLA OSARUGUE OBASEKI ADEJUMO
PARTIES
UNION HOMES SAVINGS AND LOANS PLC. APPELLANTS
BLUE WING TRAVEL AND TOURS RESPONDENTS
AREA(S) OF LAW
SUMMARY OF FACTS
The Claimant/Respondent applied for a loan facility to the tune of sum of N1, 125, 000. 00 from the Defendant/Appellant for the purchase of an office space located at Sura Shopping Complex, Simpson Street, Lagos which was being sold by the Lagos State Development and Property Corporation (LSDPC) to all its sitting tenants including the Respondent. Subsequently, the Claimant/Respondent and the Defendant/Appellant entered an agreement wherein it was agreed that the Claimant/Respondent open an account with it and pay into the account the sum of N50, 000.00 as service charge and an equity contribution of 25% of the purchase price of the office space, to which the Claimant/Respondent obliged. The Defendant/Appellant on the other hand failed to fulfill its part of the agreement, as it failed to purchase the office space on behalf of the Claimant/Respondent. the Claimant/Respondent was disgracefully ejected from the office space on the ground that no payment was received from the Defendant/Appellant on behalf of the Claimant/Respondent by the LSDPC. The Claimant/Respondent, hence instituted an action for specific performance and general damages against the Defendant/Appellant. The trial court after hearing argument of parties, held in favour of the Claimant/Respondent. Dissatisfied, the Defendant/Appellant appealed to the Court of Appeal.
HELD
Appeal Dismissed
ISSUES
? Whether there was a binding contract between the Appellant and the Respondent in respect of a Mortgage loan to purchase the office space occupied by the Respondent at Suite 321 Block A2-11, Sura Shopping Complex, Simpson Street, Lagos?” (Distilled from Grounds 1, 2 & 3)? Whether the Respondent had discharged the evidential burden -of proof to warrant award of damages?” (Distilled from Ground 4)
RATIONES DECIDENDI
CASES CITED
STATUTES REFERRED TO