- J obi Trade Investment Ltd v. Olubisi
- ₦ 200
J obi Trade Investment Ltd v. Olubisi
JOBI TRADE INVESTMENT LTD
MR. OGUNJOBI OLUSEGUN
( Trading under the name of Qualum Building Product Enterprises)
COURT OF APPEAL
JIMI OLUKAYODE BADA JCA (Presided and Read the Lead Judgment)
MASSOUD A. OREDOLA JCA
UCHECHUKWU ONYEMENAM JCA
WEDNESDAY, 28 FEBRUARY 2013
APPEAL - Appellate court - Attitude of to decision of lower court which is right
CONTRACT - Breach of contract - Nature of - Damages therein - Quantum of
CONTRACT - Nature thereof
COURT - Appellate court - Attitude of to decision of lower court which is right
PRACTICE AND PROCEDURE - Appellate court - Attitude of to decision of lower court which is right
PRACTICE AND PROCEDURE - Counterclaim - What it is
WORDS AND PHRASES - Counterclaim - What it is
- Whether the lower court was right in declaring the nonpayment of the sum of N470,000.00 (Four hundred and seventy thousand naira) as wrong, unreasonable and unlawful.
- Whether the lower court was right in directing the appellant to pay the sum of N470,000.00 (Four hundred and seventy thousand naira) and 5% interest therein in favour of the respondents being the balance of the payment for the contract.
- Whether the lower court was right in dismissing the 2nd appellant’s counter claim.
The respondent was contracted by the 2nd appellant on behalf of the 1 st appellant to carry out the roofing of the theatre and children ward at the State Hospital, Ado Ekiti. Parties agreed on a contract sum of N2,175,000.00 ( two million, one hundred and seventy-five thousand naira ). At the conclusion of the contract, the appellants paid the sum of N1,705,000.00 (One million, seven hundred and five thousand naira), leaving an outstanding sum of N470,000.00 (four hundred and seventy thousand naira).
Following its persistent demands for the outstanding sum which did not yield results, the respondent instituted an action before the High Court of Ekiti State, wherein he sought the order of court directing the appellants to pay the sum outstanding on the contract sum and interest thereon at 21% per annum from the date of the indebtedness and thereafter, at 10% till the judgment debt is fully liquidated.
The trial court considered the suit, struck out the 2nd appellant’s counter-claim and his name from the suit, and also found for the respondent as claimed. The court also awarded interest at the rate of 5% per annum thereon.
Dissatisfied, the appellants appealed to the Court of Appeal.