VICTOR KUSI BOATENG vs. COLLINS ADDAE AND ANOTHER [2018]DLHC4004

Date	2018-10-16
Suit No.	SUIT NO. P/RPC 81/2015
Citation No.	[2018]DLHC4004

DR. RICHMOND OSEI-HWERE JUSTICE OF THE HIGH COURT

KOFI EDUSEI FOR THE PLAINTIFF

DR. EMMANUEL HARRY TAWIAH FOR MARY NSIAH ASARE FOR THE DEFENDANTS

[2018]DLHC4004
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													<main id="main" class="content" style="min-height: 60rem" >VICTOR KUSI BOATENG<o:p></o:p>vs.<o:p></o:p>COLLINS ADDAE AND
ANOTHER<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&nbsp;NO. P/RPC 81/2015&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;
DATE: 16TH OCTOBER, 2018<o:p></o:p>

</div>COUNSEL
<o:p></o:p>KOFI EDUSEI 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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</div>CORAM: <o:p></o:p><div style="mso-element:para-border-div;border:none;border-bottom:solid windowtext 1.5pt;
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</div><o:p>&nbsp;</o:p><div style="mso-element:para-border-div;border:none;border-bottom:solid windowtext 1.5pt;
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<p class="MsoNormal" align="center" style="margin-bottom:0in;margin-bottom:.0001pt;
text-align:center;line-height:115%;border:none;mso-border-bottom-alt:solid windowtext 1.5pt;
padding:0in;mso-padding-alt:0in 0in 1.0pt 0in">JUDGMENT<o:p></o:p>

</div>By
an amended writ of summons dated 19th May 2016, the Plaintiff claims the
following reliefs:<o:p></o:p>(a)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Recovery of cash the sum of One Hundred
Thousand Dollars (USD $100,000) being loan defendants took from the Plaintiff
to enhance their gold business on the 15th day of April, 2013, which the
Defendants have failed to repay to the Plaintiff despite several and repeated
demands.<o:p></o:p>(b)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Interest on the said amount at the
current bank rate from the 15th day of April, 2014 till date of final payment.<o:p></o:p>The Plaintiff’s Case<o:p></o:p>It
is the case of the Plaintiff that the Defendants were introduced to him by one
Richmond Osei Tutu when the Plaintiff expressed interest in the gold trade. He
stated that in the course of discussions with the Defendants, they asked for a
loan of One Hundred Thousand Dollars (USD $100,000) to invest in their business
which had gone down and that the money was advanced to the defendants in return
for 2kg of gold per month in repayment of the loan till the loan is paid off.
The money was transferred into the account of the defendants as evidenced by
Exhibit A. That after the grant of the loan, the Defendants could not be
traced. According to the plaintiff, he later got into contact with the
Defendants and admonished them to adhere to the terms of the agreement. After
the said conversation, the defendants disappeared again. That he lodged a
complaint with the Regional Criminal Investigation Department of the Police
Service, Kumasi and the Defendants were arrested about a year later. Upon
arrest, the Defendants promised to repay the loan but have since failed hence
the present action.<o:p></o:p>The Defendant’s Case<o:p></o:p>The
defendants denied liability to the claim. They stated that they are partners in
the gold mining trade and that they had challenges which led to the collapse of
their mining operation. That the Plaintiff was introduced to them by one Mr
Osei Tutu. It is their case that they had discussions with the Plaintiff upon
which he (the plaintiff) invested in their gold mining trade. It is also the
case of the Defendants that they together with the Plaintiff opened a joint
account at Fidelity Bank Ahodwo Branch and transferred an amount of USD $100,000
into the account and that out of the USD $100,000, GHC5,000.00 was paid to the
agent Mr. Osei Tutu upon the instruction of the Plaintiff. Also, GH18,000.00
was paid to farmers as part of social commitment and compensation. The
defendants also stated that although production was low, whatever gold that was
mined was sent to the Plaintiff and the Plaintiff was fully aware of the low
production and losses.&nbsp; The defendants
also said that profit was to be shared equally but unfortunately the business
could not yield any profit as expected.<o:p></o:p>After
an unsuccessful attempt at settlement, the following issues were set down for
determination: <o:p></o:p>1.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
Whether or not the sum of Hundred Thousand
Dollars ($100,000) advanced to the Defendants by the Plaintiff was given as a
loan for the Defendants gold business?<o:p></o:p>2.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
Whether or not the Plaintiff advanced the
sum of Hundred Thousand Dollars (<a name="_Hlk527219797">$100,000</a>) to the
Defendants as an investor in the Defendants gold business?<o:p></o:p><!--[if !supportList</main>