The parties are bound by the documents that they have freely and voluntarily subscribed to. The following words of Tobi JSC in ODUTOLA v. PAPERSACK NIG. LTD. All FWLR 1214 at page 1235 are instructive on this issue: “Parties to an agreement may mutually but wrongly come to an understanding as to the legal content of it. That notwithstanding, a Court of law can only interpret the agreement strictly in its legal content and arrive at a conclusion on the law and the law alone in respect of it.
It is equally important to mention the concept of novation of contract and what it entails. It is not a strange occurrence in law for parties to an agreement to vary the terms thereof by executing another one. Novation is one of the ways in which parties can vary the terms of their agreement. The Court in the case of ONEGBEDAN v. UNITY BANK PLC LPELR-22186 Pp. 23-24, paras.
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