This is an appeal from the judgment and orders of the
Court of Appeal dated 7th, April, 2001, in which the
appellant's appeal against the judgment of the High Court
was allowed with costs.

Court considered whether the learned Justices of Appeal
erred in law when they awarded an excessively high and
unjustified interest rate.

Court ruled that the transaction was a clearing and
carriage of goods contract and not an ordinary

commercial transaction in which goods are normally
exchanged for money or some other consideration with
parties contemplating to make a profit or an interest on
the business as the expected reward. The rate of interest at
22% awarded by the learned Justices of Appeal is too
high. It accordingly replaced it with a 10% annum.