Oyetubo Jokotade Estate Resources Ltd & 2 Ors. v. Creek Energy Ltd & Anor.

300

In Stock

Facts:

Facts:
In 2006, the 2nd respondent entered into an agreement for sale of land with the 1st
appellant through its agent – the 2nd appellant – and the 3rd appellant who was the
managing director of the 2nd appellant at the material time. The sale agreement
was for two plots of land located at Sangotedo, Eti Osa Local Government Area of
Lagos State. The 2nd respondent made payments for the two plots of land on
behalf of two limited liability companies, namely, Seamore Travels & Tours Limited,
and Creek Energy Limited –, the 1st respondent. As Part of its agency services,
the 2nd respondent was to carry out development of infrastructure of the estate
where the plots of land in controversy are situated. At the time of contract, the
entire estate was without any infrastructure and the total amount to be paid by the
purchasers for infrastructure development was not ascertained, but was agreed
upon by all the purchasers to make payment in installments for infrastructure
development of the estate at an amount to be determined by the 2nd appellant.
Consequently, all the stakeholders met and agreed that a particular sum will be
paid for infrastructure development of the estate which was prorated and determined
by the size of land purchased.
The respondent made payments in installments to the 2nd appellant for a while,
but later stopped further payments in violation of the sale agreement. The appellants
sent a letter of demand to the respondents through their solicitors urging them to make payments and giving them a 30-day ultimatum. The appellants further stated
in their letter to the respondents that failure to comply will be deemed as disinterest
in continuation of the scheme and that one of the plots of land will be put up for
sale and the money realized used to defray the infrastructure development levy of
the other plot of land. In response, the respondents, through their solicitors, wrote
a letter to the appellants and demanded a refund of all monies paid within two
weeks. The respondent did not take further steps in the matter until three years
later when it instituted a claim at the High Court of Lagos State claiming inter alia,
a declaration that the sale agreement between the parties in respect of one of the
plots of land is valid, enforceable, subsisting and an order of specific performance
against the appellants.
At the end of trial, the trial judge dismissed the claims of the respondents but
ordered a refund of all the monies paid by the respondents to the appellants
totaling N5,090,200 (Five Million, Ninety Thousand Two Hundred Naira) and also
awardedN100, 000. 00 (One Hundred Thousand Naira) in favour of the respondents
being, costs of the action. The appellants were aggrieved and filed a notice of
appeal at the Court of Appeal, Lagos Division urging it to reverse the trial court.
One of the issues raised was whether the trial court was right to have held that the
appellants refund monies for the two plots of land to the respondents as against
the relief of the respondents which only related to one plot of land.

SKU: C000001106184-1-1-1-1-1-1-1-1-1-1-1-1-1-1-1-1-1-1-1 Category: Tags: , ,
My Cart (1 item)
Need Help? Chat with us