GENERAL DEVELOPMENT COMPANY LTD. vs. NOTRE DAME INVESTMENT LTD.

The Plaintiff, General Development Company Ltd., owned a large tract of land at Beahu, Western Region, and entered into a Contract of Sale dated 25 June 2018 with the Defendant, Notre Dame Investment Ltd., for the sale of 57 acres at a purchase price of USD 5,000,000. The Defendant paid 50% of the purchase price but failed to pay the balance. Subsequently, an Indenture of Assignment dated 10 February 2020 was executed, stating a purchase price of GHS 1,000,000. The Plaintiff claimed the balance of the original purchase price or alternatively recovery of the land and expungement of the Defendant's registration. The Defendant contended that the Indenture of Assignment replaced the original contract and the purchase price was reduced to GHS 1,000,000.