N.D.K. FINANCIAL SERVICES vs. JOSEPH ADE COKER [2016]DLCA8609

Date	2016-11-17
Suit No.	CIVIL SUIT NO:H1/100/2015
Citation No.	[2016]DLCA8609

M. OWUSU (J.A.) – PRESIDING

HONYENUGA (J.A.)

TANKO (J.A.)

MR. PEASAH BOADU FOR PLAINTIFF/APPELLANT

MR. ENOCH A. ANDOH FOR DEFENDANT/RESPONDENT

[2016]DLCA8609
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													<main id="main" class="content" style="min-height: 60rem" >N.D.K. FINANCIAL SERVICES<o:p></o:p>(PLAINTIFF/APPELLANT)<o:p></o:p><span lang="EN-GB" style="mso-bidi-font-size:12.0pt;line-height:115%;font-family:&quot;Book Antiqua&quot;,serif;
mso-fareast-font-family:&quot;Book Antiqua&quot;;mso-bidi-font-family:&quot;Book Antiqua&quot;;
color:#00B0F0;mso-ansi-language:EN-GB">vs.<o:p></o:p>JOSEPH ADE COKER<o:p></o:p>(DEFENDANT
/RESPONDENT)<o:p></o:p><o:p>&nbsp;</o:p>[COURT OF APPEAL,
ACCRA]<o:p></o:p><div style="mso-element:para-border-div;border:none;border-bottom:solid windowtext 1.5pt;
padding:0cm 0cm 1.0pt 0cm">

CIVIL SUIT NO:H1/100/2015&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; &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: 17TH NOV, 2016<o:p></o:p>

</div>COUNSEL:<o:p></o:p>MR. PEASAH BOADU FOR PLAINTIFF/APPELLANT<o:p></o:p><div style="mso-element:para-border-div;border:none;border-bottom:solid windowtext 1.5pt;
padding:0cm 0cm 1.0pt 0cm">

MR. ENOCH A.
ANDOH FOR DEFENDANT/RESPONDENT<o:p></o:p>

</div><span lang="EN-GB" style="mso-bidi-font-size:
12.0pt;line-height:115%;font-family:&quot;Book Antiqua&quot;,serif;mso-fareast-font-family:
&quot;Book Antiqua&quot;;mso-bidi-font-family:&quot;Book Antiqua&quot;;mso-ansi-language:EN-GB">CORAM:<o:p></o:p><div style="mso-element:para-border-div;border:none;border-bottom:solid windowtext 1.5pt;
padding:0cm 0cm 1.0pt 0cm">

M. OWUSU
(J.A.) – PRESIDING, HONYENUGA (J.A.), TANKO (J.A.)<o:p></o:p>

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

<p class="MsoNormal" align="center" style="margin-bottom:0cm;margin-bottom:.0001pt;
text-align:center;border:none;mso-border-bottom-alt:solid windowtext 1.5pt;
padding:0cm;mso-padding-alt:0cm 0cm 1.0pt 0cm">JUDGMENT<o:p></o:p>

</div>MARIAMA
OWUSU, J.A.:<o:p></o:p><o:p>&nbsp;</o:p>On
22nd day of August, 2014, the High Court, (Commercial Division)
Accra, ruled among other things as follows:<o:p></o:p>“The Court thinks
that the expression in respect of the mode of the calculation of interest is
almost meaningless.&nbsp; A calculation of
interest per month at the rate of 6% should suffice.<o:p></o:p>For these reasons the
figure arrived at by the Auditor as the amount owing by the defendant is not
only unconscionable but completely unacceptable and the same is set aside.<o:p></o:p>The parties are
hereby directed to appear before the Registrar of the Court on the 28th
day of August, 2014 with evidence of payments made by the defendants up to the
31st December, 2011.<o:p></o:p>The Registrar shall
then on the basis of the evidence ascertain how much of the Gh¢1,000,000.00 was
still outstanding by the defendant on 31st December, 2011.&nbsp; The interest shall then be calculated at
simple interest at the rate of 6% per month on the amount due and owing by the
defendant on 31st December, 2011.&nbsp;
The interest shall be calculated on the amount due from 19th
September, 2008 to the date.”<o:p></o:p>Dissatisfied
with the decision of the High Court, the plaintiff appealed to the Court of
Appeal on the following grounds:<o:p></o:p><span lang="EN-US" style="mso-bidi-font-size:
12.0pt;line-height:150%;font-family:&quot;Book Antiqua&quot;,serif;mso-fareast-font-family:
&quot;Book Antiqua&quot;;mso-bidi-font-family:&quot;Book Antiqua&quot;">a.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
The
ruling is against the weight of evidence.<o:p></o:p><span lang="EN-US" style="mso-bidi-font-size:
12.0pt;line-height:150%;font-family:&quot;Book Antiqua&quot;,serif;mso-fareast-font-family:
&quot;Book Antiqua&quot;;mso-bidi-font-family:&quot;Book Antiqua&quot;">b.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
The
learned trial Judge erred when he held that the meaning of the default clause
contained in paragraph 2 (a) (vi) of the terms of settlement is unclear and obscured.<o:p></o:p>