ABOKOBI AREA RURAL vs. NII DZAHAA MANLE

This is an Application for Summary Judgment under Order 14, rule 1 of CI 47. The affidavit in support of the application discloses that on 3rd of April, 2017 the Defendant in addition to his pre-exiting loan facilities from the Plaintiff, applied for an additional loan facility of GHC100, 000 to enable him expand his business. Pursuant to this on 27th of April, 2017 the Plaintiff entered into a loan agreement with the Defendant. The Defendant was to repay the facility together with interest at the rate of 30% per annum computed using the straight line method for a period of 36 months with effect from 28th of June, 2017 to 28th of May, 2020. As security for the loan the Defendant gave his house at Teiman to the Plaintiff. The provision of security was the material inducement for which the Plaintiff gave out this loan to the Defendant. On 24th of July, 2017 the Defendant wrote to the Plaintiff for an additional loan facility in the sum of GHC20, 000.00 making his total liability to ...