AGRICULTURAL DEVELOPMENT BANK (PLAINTIFF) vs. HOUSE OF REMMA AND RALPH MENDS ODURO (DEFENDANTS)

I understood the business transaction between the plaintiff Bank and the defendant which had given rise to the plaintiff's complaint in this court to be as follows:— The plaintiff Bank gave financial assistance to certain rice growers with the understanding that after production of the rice they will deliver them to the Bank. They did that. The Bank will in turn give the rice out to rice brokers like the 1st defendant. The brokers will bag, mill and sell the rice and pay an agreed price to the Bank. By this arrangement the farmers had ready market and gradually paid the loans they took from the Agricultural Development Bank. The relationship between the Agricultural Bank and the Brokers was that the Bank gave the rice, valued in cash, to the Brokers as loan, and the Brokers were to pay after selling the rice. It was this type of arrangement that was between the 1st defendant company and the plaintiff Bank. From the evidence before me the 1st defendant operated accounts with the pla.....