Facts:

The 1st respondent is the Chairman and Managing Director of the 2nd respondent Company. The 2nd respondent is a customer of the appellant bank and maintained two current accounts at the appellant’s branch in Akure, Ondo State. The 2nd respondent sometime in 1996 applied for and was granted an overdraft facility of 31.5 Million Naira. The 1st respondent’s property was mortgaged as collateral for the facility granted. In 1997, an overdraft facility of 35 Million Naira was granted by the appellant to the 2nd respondent. The amount granted was personally guaranteed by the 1st respondent. In addition, a Deed of Hypothecation was entered into between the appellant and the respondents.

The second respondent defaulted in the payment of the credit facilities. The appellant then took steps to enforce its right under the Deed of Hypothecation of stock of Motor Batteries in the custody of the 2nd respondent. The appellant sealed the business premises of the 2nd Defendant and stationed policemen