SALOME OPOKU AGYEMANG vs. FREDERICK KYEI [2014]DLHC3888

Date	2014-05-12
Suit No.	SUIT NO.OCC/47/12
Citation No.	[2014]DLHC3888

ANGELINA MENSAH-HOMIAH (MRS.) JUSTICE OF THE HIGH COURT

FELIX DATSOMOR FOR THE PLAINTIFF.

MAVIS DOMALAE FOR THE DEFENDANT.

[2014]DLHC3888
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													<main id="main" class="content" style="min-height: 60rem" >SALOME OPOKU AGYEMANG<o:p></o:p>vs.<o:p></o:p>FREDERICK KYEI<o:p></o:p>&nbsp;[HIGH COURT (COMMERCIAL
DIVISION), KUMASI]<o:p></o:p><div style="mso-element:para-border-div;border:none;border-bottom:solid windowtext 1.5pt;
padding:0in 0in 1.0pt 0in">

SUIT NO.OCC/47/12&nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp;&nbsp;DATE: 12TH MAY, 2014<o:p></o:p>

</div>COUNSEL:&nbsp;&nbsp; <o:p></o:p>FELIX DATSOMOR FOR THE PLAINTIFF.<o:p></o:p><div style="mso-element:para-border-div;border:none;border-bottom:solid windowtext 1.5pt;
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ANGELINA
MENSAH-HOMIAH (MRS.)<span style="font-size:12.0pt;line-height:115%;
font-family:&quot;Book Antiqua&quot;,&quot;serif&quot;;mso-fareast-font-family:&quot;Arial Unicode MS&quot;;
mso-bidi-font-family:&quot;Arial Unicode MS&quot;"> JUSTICE OF THE HIGH COURT<o:p></o:p>

</div><o:p>&nbsp;</o:p><div style="mso-element:para-border-div;border:none;border-bottom:solid windowtext 1.5pt;
padding:0in 0in 1.0pt 0in">

</div><span style="font-size:12.0pt;
line-height:115%;font-family:&quot;Book Antiqua&quot;,&quot;serif&quot;;mso-fareast-font-family:
&quot;Arial Unicode MS&quot;;mso-bidi-font-family:&quot;Arial Unicode MS&quot;;mso-ansi-language:
EN-US">The endorsement on the Plaintiff’s writ of summons issued from the
registry of this court on 11/06/2012 reads as follows:<o:p></o:p><span style="font-size:12.0pt;
line-height:115%;font-family:&quot;Book Antiqua&quot;,&quot;serif&quot;;mso-fareast-font-family:
&quot;Arial Unicode MS&quot;;mso-bidi-font-family:&quot;Arial Unicode MS&quot;;mso-ansi-language:
EN-US">The Recovery of liquidated cash&nbsp;
sum of GH¢ 50,400.00 &nbsp;inclusive of
interest being financial facility which the Plaintiff advanced to the defendant
towards the expansion of the defendant’s business somewhere in 2003 but which
said amount the defendant has refused to tender and or repay same to Plaintiff
despite several acknowledgments and rescheduling of repayments.<o:p></o:p><span style="font-size:12.0pt;
line-height:115%;font-family:&quot;Book Antiqua&quot;,&quot;serif&quot;;mso-fareast-font-family:
&quot;Arial Unicode MS&quot;;mso-bidi-font-family:&quot;Arial Unicode MS&quot;;mso-ansi-language:
EN-US">A summary of the Plaintiff’s case is that somewhere in the year 2003,
the defendant approached her for some financial assistance towards the
expansion of his business with a firm binding agreement that the defendant
would give the Plaintiff 5% of that amount&nbsp;
per month as interest. Irrespective of higher interests charged by
financial institutions such as the UT Financial Services (10%), the Plaintiff
gave an amount of GH¢ 10,000.00 to the Defendant on the agreed terms. It is the
Plaintiff’s case that the Defendant has refused to repay her money together
with the agreed interest.<o:p></o:p><span style="font-size:12.0pt;
line-height:115%;font-family:&quot;Book Antiqua&quot;,&quot;serif&quot;;mso-fareast-font-family:
&quot;Arial Unicode MS&quot;;mso-bidi-font-family:&quot;Arial Unicode MS&quot;;mso-ansi-language:
EN-US"><o:p>&nbsp;</o:p><span style="font-size:12.0pt;
line-height:115%;font-family:&quot;Book Antiqua&quot;,&quot;serif&quot;;mso-fareast-font-family:
&quot;Arial Unicode MS&quot;;mso-bidi-font-family:&quot;Arial Unicode MS&quot;;mso-ansi-language:
EN-US">The case of the Defendant is that the Plaintiff expressed interest in
investing her money in the local rice business of Frederick Kyei Enterprise
Ltd. He negotiated with its director and invested an initial amount of GH¢
4,800.00 at an agreed interest rate of 10% which was subsequently paid to her
and that account closed. A second investment of GH¢10,000.00 at an interest
rate of 10% was made which she subsequently withdrew both the principal and
interest. Thereafter, she made a third investment of GH¢10,000.00 at an agreed
interest of 5% and when interest had accrued to GH¢ 4,000.00, the Plaintiff directed
the Company to add it to the principal. Thus, her new investment stood at GH¢14,000.00.
A receipt on this amount was issued to the Plaintiff and the subsequent accrued
interest of GH¢6000.00 was paid to the Plaintiff’s son upon her instruction
whilst she was abroad.&nbsp; Frederick
Kyei&nbsp;&nbsp; Enterprise Ltd encountered some
difficulties resulting from non-payment of supplies made to some government
agencies which brought the company’s operations to a halt in the year 2006.<o:p></o:p><span style="font-size:12.0pt;
line-height:115%;font-family:&quot;Book Antiqua&quot;,&quot;serif&quot;;mso-fareast-font-family:
&quot;Arial Unicode MS&quot;;mso-bidi-font-family:&quot;Arial Unicode MS&quot;;mso-ansi-language:
EN-US">Three issues were set down for trial but an additional issue arises as a
result of the amended statement of defence filed by the Defendant on 04/01/2014.
These are the issues:<o:p></o:p><span style="font-size:12.0pt;line-height:115%;font-family:&quot;Book Antiqua&quot;,&quot;serif&quot;;
mso-fareast-font-family:&quot;Book Antiqua&quot;;mso-bidi-font-family:&quot;Book Antiqua&quot;;
mso-ansi-language:EN-US">1.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; <span style="font-size:12.0pt;line-height:115%;font-family:&quot;Book Antiqua&quot;,&quot;serif&quot;;
mso-fareast-font-family:&quot;Arial Unicode MS&quot;;mso-bidi-font-family:&quot;Arial Unicode MS&quot;;
mso-ansi-language:EN-US">Whether the Ten Thousand Ghana Cedis (GH¢10,000.00)
Plaintiff gave to Defendant was a financial assistance to Defendant or an
investment in Defendant’s business.<o:p></o:p><span style="font-size:12.0pt;line-height:115%;font-family:&quot;Book Antiqua&quot;,&quot;serif&quot;;
mso-fareast-font-family:&quot;Book Antiqua&quot;;mso-bidi-font-family:&quot;Book Antiqua&quot;;
mso-ansi-language:EN-US">2.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; <span style="font-size:12.0pt;line-height:115%;font-family:&quot;Book Antiqua&quot;,&quot;serif&quot;;
mso-fareast-font-family:&quot;Arial Unicode MS&quot;;mso-bidi-font-family:&quot;Arial Unicode MS&quot;;
mso-ansi-language:EN-US">Whether the parties agreed that each month Defendant
would pay 5% of the Ten thousand Cedis to Plaintiff as interest?<o:p></o:p>