SOCIAL SECURITY BANK LTD. vs. AGYAKWA

The plaintiff-respondent (hereinafter referred to as the plaintiff) imported into this country from the United Kingdom certain medical appliances as well as drugs. The evidence is that he bought the items over a period of time and shipped them to Ghana while he was still in the United Kingdom. When he later came to Ghana, the goods had arrived and he needed money to clear them. He did not have the money and approached the defendant-appellants (hereinafter referred to as the defendants) who are bankers for help. It was agreed orally that the defendants would help, but subject to their keeping the goods in their warehouse as security for the facilities granted. In accordance with this agreement, the defendants paid direct to the necessary agencies and the Ports Authority certain sums of money and this enabled the plaintiff to clear the goods. A list of the items imported was supplied to the defendants. The loan thus granted totalled ¢800,000. The goods, in five containers, were deliver....