Contract (136)
"It is an elementary principle of contract and indeed well settled, that parties are generally bound by the terms and or conditions of an agreement which they voluntarily entered into. Also, that the Courts are bound by the terms of an agreement which parties before it have freely and validly executed.
"It is trite and indeed well settled that parties are bound by the terms and or conditions of their agreement, and Court when saddled with the responsibility to construing the agreements it is enjoined to do so by giving meaning in a manner that will give verve to the intention of the parties as contained within the four walls of the contract.
"It is trite that where parties have embodied the terms of their contract in a written document, extraneous evidence is not required, whether to add, subtract from, vary or contradict the terms of the written document. Please see SOLICITOR GENERAL WESTERN NIG. VS. DR. FESTUS O. ADEBONOJO & ORS (1971) 1 ALL NLR 181; OLATUNDE VS OAU & ANOR (1998) LPELR-2575 (SC)." Per BAGE, J.S.C. (P. 35, Paras. D-F) MR. P. T. ADEDEJI v. DR. MOSES OBAJIMI (2018) LPELR-44360(SC)
"It is trite that where parties have embodied the terms of their contract in a written document, extraneous evidence is not required, whether to add, subtract from, vary or contradict the terms of the written document. Please see SOLICITOR GENERAL WESTERN NIG. VS. DR. FESTUS O. ADEBONOJO & ORS (1971) 1 ALL NLR 181; OLATUNDE VS OAU & ANOR (1998) LPELR-2575 (SC)." Per BAGE, J.S.C. (P. 35, Paras. D-F) MR. P. T. ADEDEJI v. DR. MOSES OBAJIMI (2018) LPELR-44360(SC)
"From the pleadings and the vital pieces of evidence on both sides what is on the table is that the memorandum of Understanding (M. O.U), Exhibit 7 embodies the terms of the contract and the evidence of even the appellant underscored that point particularly as relating to the time of performance of the contract.
"A fundamental principle of the law of contract is that for a contract to be regarded as legally binding and enforceable, parties must reach a consensus ad idem in respect of terms of same." Per BAGE, J.S.C. (P. 39, Para. D) MR. P. T. ADEDEJI v. DR. MOSES OBAJIMI (2018) LPELR-44360(SC)
"Suffice to say, that when a party to a contract fails, neglects, or refuses without a lawful reason or excuse to perform the obligation he undertook under the contract, or when such a party performs the obligation defectively or makes it impossible for himself to perform the contract, a contract has been breached.
"It is now trite law, that a valid contract may be discharged by one of four ways. See TSOKWA OIL MARKETING COMPANY VS B.O.N. LTD (2002) 11 NWLR (Pt.777) page 163 at 200 where this Court held as follows: "A valid contract between parties may be discharged in one of four ways known to law, namely: a) by performance b) by express agreement c) by the doctrine of frustration; or d) by breach." Per BAGE, J.S.C. (P. 40, Paras. A-C) MR. P. T. ADEDEJI v. DR. MOSES OBAJIMI (2018) LPELR-44360(SC)
"...the appellant has not been able to establish that the contract was illegal. In Osborn's Concise Law Dictionary, 9th edition, edited by Sheila Bone, page 198, the learned author defines the word "illegal" as "An act which the law forbids.
"Parties are bound by their contracts and it is not the duty of the court to rewrite contracts for the parties. In the absence of fraud or misrepresentation the parties are bound by its terms. See African Reinsurance Corp. v. Fataye 1986 1 NWLR pt.14 p.113 Bookshop House v. Stanlev Consultants 1986 3 NWLR pt.26 p.87" Per RHODES-VIVOUR, J.S.C.(Pp. 65-66, paras. F-A) ATTORNEY-GENERAL OF NASARAWA STATE v. ATTORNEY-GENERAL OF PLATEAU STATE(2012) LPELR-9730(SC)
