Facts:

Facts:
The respondent sued the appellant at the High Court of Lagos State in 2008;
claiming damages for breach of contract to the tune of N3,000,000.00(Three
Million Naira). The suit of the respondent was predicated on the allegation that in
2008, it approached the appellant via a letter for a mortgage finance facility in
order to purchase its office apartment at the Sura Shopping Complex, Simpson
Street, Lagos from the Lagos State Development and Property Corporation
(LSDPC). The respondent stated that after approaching the appellant, one of its
officers orally instructed it to open an account with it and pay the service charge
ofN50,000.00 (Fifty Thousand Naira) in addition to the payment of twenty five
percent equity contribution of the total cost of the office apartment. The cost of
the office apartment wasN1,100,000.00 (One Million, One Hundred Thousand
Naira) and pursuant to the oral agreement, the respondent went ahead and made
a deposit ofN275,000.00 (Two Hundred and Seventy Five Thousand Naira) into
its account with the appellant. Furthermore, the respondent stated that the appellant
continued to assure it that its application was being acted upon until it was forcefully
ejected from the office apartment by the LSDPC in July, 2008 on the ground that
it received no payments from the appellant in respect of the office apartment.
The respondent was aggrieved and filed a claim at the Lagos State High Court.
However, the appellant after filing its pleadings failed, refused or neglected to call
any witness at the trial to present evidence in support of its pleadings until defence
was foreclosed by the court. Consequently, the trial judge after evaluating the
evidence of the claimant, gave judgment in favour of the claimant and held that
the appellant was liable for breach of contract and awarded in favour of the
respondent general damages of N3,000,000.00 (Three Million Naira).
The appellant was dissatisfied with the judgment and appealed to the Court of
Appeal, Lagos Division challenging the decision of the trial court and urging the
Court of Appeal to overrule the trial court. One of the issues formulated for
determination is whether there was a binding contract between the appellant and
the respondent in respect of a mortgage loan to purchase the office apartment at
Sura Shopping Complex, Simpson Street, Lagos.