ERIC KOFI ASAMOAH AND APRAMANG KUMASI vs. STEPHEN NYAMEKYE AND BREMANG-KUMASI [2019]DLSC6355

Date	2019-05-08
Suit No.	CIVIL APPEAL NO. J4/03/2019
Citation No.	[2019]DLSC6355

ADINYIRA (MRS.) JSC (PRESIDING)

BAFFOE-BONNIE JSC

MARFUL-SAU JSC

AMEGATCHER JSC

KOTEY JSC

STEPHEN OPPONG FOR THE PLAINTIFF/RESPONDENT/APPELLANT

K. A. ASANTE-KROBEA FOR THE DEFENDANT/APPELLANT/RESPONDENT

[2019]DLSC6355
																																						<div class="restriction-wrapper">
														<div class="container-lg">
															<div class="row">
																<div class="col-md-12 restricted-content">
																	<div class="restricted-content-img-wrapper">
																		<div class="lock-icon bounce-7">
																			<img class=""
																				src="https://www.dennislawgh.com/dl-assets/dl-images/lock-content.png"
																				alt="Subscription based content">
																		</div>
																	</div>
																	 
																		<a href="https://www.dennislawgh.com/login"
																		class="btn btn-primary btn-lg"
																		style="font-family: 'open sans'; text-transform: capitalize; border-radius: 8px"> 
																		Login to Read Full Case </a>
																	 
																	
																</div>
															</div>
														</div>
													</div>
													<main id="main" class="content" style="min-height: 60rem" >ERIC KOFI ASAMOAH AND APRAMANG KUMASI<o:p></o:p>[PLAINTIFF/RESPONDENT/APPELLANT]<o:p></o:p>vs.<o:p></o:p>STEPHEN NYAMEKYE AND BREMANG-KUMASI<o:p></o:p>[DEFENDANT/APPELLANT/RESPONDENT]<o:p></o:p>[SUPREME COURT,
ACCRA]<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">

<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">CIVIL APPEAL NO. J4/03/2019&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: 8TH MAY, 2019<o:p></o:p>

</div><o:p>&nbsp;</o:p>COUNSEL<o:p></o:p><o:p>&nbsp;</o:p>STEPHEN OPPONG FOR THE
PLAINTIFF/RESPONDENT/APPELLANT.<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">

<p class="MsoNormal" style="margin-bottom:0in;margin-bottom:.0001pt;text-align:
justify;line-height:115%;border:none;mso-border-bottom-alt:solid windowtext 1.5pt;
padding:0in;mso-padding-alt:0in 0in 1.0pt 0in">K. A. ASANTE-KROBEA FOR THE
DEFENDANT/APPELLANT/RESPONDENT.<o:p></o:p>

</div>CORAM:
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; <o:p></o:p>ADINYIRA (MRS.) JSC (PRESIDING), BAFFOE-BONNIE
JSC, MARFUL-SAU JSC, AMEGATCHER JSC, KOTEY JSC&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; <o:p></o:p><div style="mso-element:para-border-div;border-top:solid windowtext 1.5pt;
border-left:none;border-bottom:solid windowtext 1.5pt;border-right:none;
padding:1.0pt 0in 1.0pt 0in">

<p class="MsoNormal" align="center" style="margin-top:6.0pt;text-align:center;
line-height:115%;border:none;mso-border-top-alt:solid windowtext 1.5pt;
mso-border-bottom-alt:solid windowtext 1.5pt;padding:0in;mso-padding-alt:1.0pt 0in 1.0pt 0in">JUDGMENT<o:p></o:p>

</div>MARFUL-SAU,
JSC: - <o:p></o:p>The appellant in this appeal is urging us to set
aside the decision of the Court of Appeal, sitting at Kumasi on 19th
July 2016, which reversed the decision of the trial High Court, Kumasi. The
trial High Court had entered judgment for the appellant herein on the 22nd
of December, 2014. From the facts of the case, the parties agreed that
appellant herein, would obtain an overdraft facility from Stanbic Bank for
their common use, using the respondent’s property as security. The arrangement
was that the parties will both use the facility of GHC 50,000.00 and share the
interest payment on a pro rata basis depending on how much each had out of the
GHC 50,000.00. The overdraft facility was granted in December 2007 and an
account in the name of appellant’s business “Asamok Enterprise’’ was opened for
the disbursement of the overdraft.<o:p></o:p>The appellant initially gave the respondent GHC
10,000.00 in 2007 and later the amount was increased to GHC 20,000.00. As
agreed by the parties by 2009, the respondent had received a total of GHC
50,000.00 from the appellant. The appellant who took the overdraft, informed
the respondent that the interest payable on the facility was 33.7% per annum.
The respondent was thus to pay GHC 300 per month as interest on every
GHC10,000.00. Accordingly, at GHC 50,000.00, the respondent was paying interest
of GHC 1,500.00 per month. In 2010, the respondent requested the appellant to
convert the overdraft into a loan to enable him settle the indebtedness
gradually, but the appellant rather renewed the overdraft and took GHC 1,000.00
from the respondent.<o:p></o:p>The respondent, however, faithfully paid the
interest as indicated to him by the appellant on the overdraft until 2010, when
he requested the appellant to render account on the facility and show
documentary proof of the interest rate he had paid over the years. The
appellant refused to account and also failed to provide the evidence of the
interest rate.&nbsp; In April 2012, the
appellant put pressure on the respondent to pay GHC 10,000.00 into the
overdraft account in addition to the monthly interest payments. In September
2012, the respondent stopped further payment of interest, because he believed
the interest charged by the Bank on the overdraft could not have been fixed
from 2007 to 2012. As at the time, respondent had paid interest in excess of
GHC 80,000.00 into the overdraft account.<o:p></o:p>The respondent’s decision to stop paying further
monies into the overdraft account caused the appellant to initiate this action
at the High Court, Kumasi for the following reliefs:<o:p></o:p>‘’ a. &nbsp;&nbsp;&nbsp;&nbsp; Recovery
of Forty Thousand Ghana Cedis (GHC 40,000.00) being the outstanding balance of
facility the Defendant utilised as a result of a special arrangement between
the parties.<o:p></o:p>b. &nbsp;&nbsp;&nbsp; Interest
of 3.5% per month on the GHC 40,000.00 from 11/11/12 till date of final
payment.<o:p></o:p>&nbsp;&nbsp;&nbsp; c. &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Such further order as this Honourable Court may deem
fit.’’<o:p></o:p>The respondent denied the claims by the appellant
and counterclaimed for the following:<o:p></o:p>‘’ a. &nbsp;&nbsp;&nbsp;&nbsp; An
order compelling the plaintiff to render accounts on the ove</main>