ACHEAMPONG vs. FIRST GHANA BUILDING SOCIETY AND OTHERS

JUDGMENT OF OSEI-HWERE J.A. This action has its genesis in a loan transaction. In 1960 the plaintiff took a loan of £2,000 from the first defendants. He secured the repayment of the loan with his house No A 1420/3 (Glory House) situate at Mamprobi, Accra. The loan was payable by instalments. A deed of mortgage was executed between the plaintiff of the one part and the first defendants of the other part in pursuance of the said loan. In 1974 the plaintiff was still in arrears in the sum of ¢2,175 and the first defendants issued their notice of demand dated 17 June 1974. The plaintiff’s next friend paid ¢100 on the plaintiff’s behalf and issued post-dated cheques in liquidation of the balance which the first defendants rejected before the maturity dates. Long after the rejection of the said cheques (some 20 months after the rejection) the first defendants, as alleged, caused the plaintiff’s mortgaged property to be sold by the second defendant to the third defendant at a publ...