In the case of National Insurance Corporation of Nigeria Ltd. v. Power and Industrial Engineering Co. Ltd. (1986) 1 NWLR (Pt. 14) 1 at 29, Aniagolu, JSC had this to say: “Equity, as we all know, inclines itself to conscience reason and good faith and implies, system of law disposed to a just regulation of mutual rights and duties of men, in a civilized society. It does not envisage sharp practice and undue advantage of a situation and a refusal to honour reciprocal liability arising therefrom; it will demand that a person will enter into a deal as a package-enjoying the benefits thereof and enduring, at the same time, the liabilities thereon.”
EQUITY AIDS THE VIGILANT
Whoever seeks equitable remedy like specific performance must show that he is vigilant and does all that was required of him to have clear hand to enforce the contract. Vigilantibus et non dormientibus jura subveniunt.
– Belgore, JSC. Nlewedim v. Uduma (1995)