KWAKU FRIMPONG &FLOSSIE FRIMPONG vs. COMMERCIAL INVESTMENTS LIMITED

The Plaintiffs are a couple resident in Accra whiles the Defendant is a limited liability company registered under the laws of Ghana and carrying out the business of real estate development and sale of same. The facts of this case, in brief, are that the Plaintiffs, sometime in August, 2006 entered into an agreement with the Defendant Company for the purchase of a three (3) bedroom house at the cost of US$ 58,179.00. The agreement formed part of a home ownership scheme that the Defendant Company was running at Fair Havens, East Legon, its estate development site. Per the terms of the agreement (see Exhibit A), the Plaintiffs were required to make a deposit which was equivalent to 2% of the purchase price. The payment on installment schedule as presented in Exhibit B was for a monthly payment of US$ 237.66 till date of final payment after which the Plaintiffs were to be put in possession of the building. After the Plaintiffs made the initial deposit of US$ 1,200 in August 2006, the D...