Whether the exercise of a mortgagee's power of sale can be vitiated and the sale set aside where it is shown that the sale was made at fraudulent or gross undervalued price
"As I earlier observed, undervalue alone is not enough to vitiate the exercise of a Mortgagee's power of sale, it must be shown that the sale was made at fraudulent or gross undervalue. In F.B.N. Plc v. Fashar (2000) 1 NWLR Part 662 page 631, the case of Majekodunmi vs. Coop Bank Ltd. (1997) 10 NWLR part 524 page 198 was referred to and in which Adamu, J.C.A., held thus: "(1) once the power of sale arises and becomes exercisable, its improper or irregular exercise will not make the purchaser's title impeachable - see T. B. Erikotola vs. A. S. Alli & Ors (supra); and Sabbach vs. The Bank of West Africa Ltd. (1962) LLR 174.
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