It was common ground that the relationship between the plaintiff and the 1st defendant is contractual and governed by exhibit B, the Deed of Legal Mortgage. That being so, extrinsic evidence will generally not be acceptable to vary the terms agreed upon (see for example U.B.N. v. Ozigi (1994) 3 NWLR (Pt. 333) 385). – Kutigi JSC. Okonkwo v. Cooperative Bank (2003)
A DEED BECOMES EFFECTIVE UPON DELIVERY
This is because, in my respectful view, it is settled that a transaction created by a deed will not come into effect prior to the delivery of the deed. In other words, a deed only becomes effective upon its delivery. So, until the time specified had arrived or the condition had been performed or the Governor has given his consent, the instrument, will not be a deed so to speak, but is a mere escrow.
– Ogbuagu, JSC. Brossette v. Ilemobola (2007)