EBONY PEARLS COMPANY LTD vs. BEIGE HOMES LTD AND ANOTHER

The plaintiff per its writ of summons filed on 27/3/15, claims against the defendants for 1. The payment of the 2nd instalment amounting to GHC 2,482,376.00 2. Interest on the above sum at the current bank interest rate from the 24th of October ,2014 OR on the alternative, forfeiture of the land from the 1st defendant to the plaintiff. Briefly put the plaintiffs case is that by a lease between it and the Otoku Duodu Abrade family of Adamrobe, it was granted a 410.27 acre of land. Subsequently the plaintiff says it assigned 400.33 acres out of the 410.27 acres to the Ministry of Water Recourses and Housing but upon a failure by the ministry to honour terms of their agreement, the land reverted back to the plaintiff upon surrender by the ministry. Defendants according to the plaintiff showed interest in the land and same 400.33 acres was assigned to them for a consideration of GHC 7,205,940.00, to be paid in three instalments of GHC 2,241,188.00, GHC2, 482,376.00 and GHC 2,482,...