CRYSTAL CITY LIMITED vs. BCM GHANA LIMITED [2023]DLCA15130

Date	2023-02-23
Suit No.	CIVIL APPEAL NO H1/148/2022
Citation No.	[2023]DLCA15130

SENYO DZAMEFE J.A (PRESIDING)

MERLEY A. WOOD (MRS) J.A

AMMA GAISIE (MRS.) JA

JUSTICE TSAKPOE FOR PLAINTIFF/RESPONDENT/APPELLANT

DORIS BANFO DEFENDANT/APPLICANT/RESPONDENT

[2023]DLCA15130
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													<main id="main" class="content" style="min-height: 60rem" >CRYSTAL
CITY LIMITED<o:p></o:p>(PLAINTIFF/RESPONDENT/APPELLANT)<o:p></o:p>vs.<o:p></o:p>BCM
GHANA LIMITED<o:p></o:p>(DEFENDANT/APPLICANT/RESPONDENT)<o:p></o:p>[COURT OF APPEAL,
ACCRA]<o:p></o:p><div style="border-top: none; border-right: none; border-left: none; border-image: initial; border-bottom-width: 1.5pt; border-bottom-color: windowtext; padding: 0in 0in 1pt;">

CIVIL APPEAL NO
H1/148/2022&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: 23RD FEBRUARY, 2023<o:p></o:p>

</div>COUNSEL<o:p></o:p>JUSTICE
TSAKPOE FOR PLAINTIFF/RESPONDENT/APPELLANT<o:p></o:p><div style="border-top: none; border-right: none; border-left: none; border-image: initial; border-bottom-width: 1.5pt; border-bottom-color: windowtext; padding: 0in 0in 1pt;">

<p class="MsoNormal" style="margin-bottom:0in;margin-bottom:.0001pt;text-align:
justify;line-height:150%;border:none;mso-border-bottom-alt:solid windowtext 1.5pt;
padding:0in;mso-padding-alt:0in 0in 1.0pt 0in">DORIS BANFO
DEFENDANT/APPLICANT/RESPONDENT<o:p></o:p>

</div>CORAM&nbsp; <o:p></o:p>SENYO DZAMEFE J.A (PRESIDING), MERLEY
A. WOOD (MRS) J.A, AMMA GAISIE (MRS.) JA<o:p></o:p><div style="border-top-width: 1.5pt; border-top-color: windowtext; border-left: none; border-bottom-width: 1.5pt; border-bottom-color: windowtext; border-right: none; padding: 1pt 0in;">

<p class="MsoNoSpacing" align="center" style="text-align:center;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>&nbsp;MERLEY WOOD JA<o:p></o:p>&nbsp;On or about 5th November,
2010, the Plaintiff/Respondent/Appellant and the Defendant/Applicant/Respondent
entered into a sale and purchase agreement over a parcel of land owned by the
Appellant on the agreed consideration of One Million Seven Hundred Thousand
United States Dollars (US$1,700,000). The Defendant/Applicant/Respondent paid a
deposit of Eight Hundred and Fifty Thousand United States Dollars (US$850,000.00).
When the outstanding payment was not made due to a misunderstanding, the Plaintiff/Respondent/Appellant
sued at the High Court for a declaration that the failure, refusal and/or
neglect of the Defendant to pay the amount of US$850,000.00 to the Plaintiff
offends the terms of the contract between the parties and therefore constitutes
a breach of the contract between the parties; a declaration that the claim to
title to the disputed land without recognition of the right and interest of the
Plaintiff as its grantor constitute a denial of the right and title of the
Plaintiff; an order for recovery of possession of the disputed land upon the
Plaintiff’s refund of the deposit of an amount of US$850,000.00; an order
directed at the Land Title Registry to cancel any certificate of title issued
to the Defendant in respect of the disputed land and the restoration of the
title of the Plaintiff in the records of the Land Title Registry; General
damages and costs.<o:p></o:p>&nbsp;After a full trial, judgment was given on 28th
October 2014 in favour of the Plaintiff/Respondent/Appellant and the court
ordered the Defendant/Applicant/Respondent to pay the outstanding balance with
interest thereon from “1st January
2013 to the date of payment only.” The High Court did not state the
interest rate to be applied. <o:p></o:p>Dissatisfied with the judgment of the
High Court, the Defendant/Applicant/Respondent appealed to this Court. The
grounds of appeal among others included the order of payment of interest on the
outstanding amount of US$850,000.00. <o:p></o:p>Meanwhile, the
Plaintiff/Respondent/Appellant following the decision of the High Court filed
an Entry of Judgment dated 14th December 2014 found at pages 109 and
110 of the record of appeal. The Entry of Judgment included interest calculated
on the judgment sum at LIBOR rate plus a margin of six per centum (6%) based on
the 91 day Treasury Bill rate prevailing at the time and was duly served on the
Respondent. The Defendant/Appellant/Respondent consequently paid to the
Appellant Seven Hundred and Fifty Thousand Dollars ($750,000.00) on 8th
January 2015 and paid another One Hundred Thousand Dollars ($100,000.00) on 9th
March 2018 which is the total debt owed to Appellant. Thus the Respondent
eventually paid the judgment sum without the payment of the interest. <o:p></o:p>The Court of Appeal on 21st
January 2021 dismissed the appeal against the payment of interest and affirmed
the judgment of the High Court. This Court did not state the rate to be applied
in the calculation of the interest.<o:p></o:p>Henceforth, the
Plaintiff/Respondent/Appellant will be referred to as Appe</main>