|
_____________________________________________________________
JUDGMENT
________________________________________________________________
On 11-12-2009 the Plaintiff
herein issued a writ in which it
claims the following reliefs
against the Defendant.
i.
Recovery of an amount of
GH¢289,841.45 which became due
and owing as at 29-11-2009
arising out of a loan facility
granted to the Defendant.
ii.
A further recovery of an amount
of GH¢10,059.00 which became due
and owing as at 21-10-2009
arising out of an auto loan
facility granted the Defendant.
iii.
Interest at the agreed rate of
6% and 4% in respect of claims
(i) and (ii) respectively till
date of final payment.
iv.
And/or alternatively judicial
sale of the residential property
at South Odorkor and four plots
of land at McCarthy Hills.
The averred facts in support of
the Plaintiff’s case are that it
granted an auto loan and another
loan facility to the Defendant
in August and October, 2008 at
agreed interest of 4% and 6% per
month respectively. The
Defendant used the vehicle he
bought, that is VW Touareq with
Registration No. GS 2500 Z as
well as landed property at South
Odorkor and McCarthy Hills as
security. As at 21-10-2009 the
Defendant’s indebtedness on the
auto loan stood at GH¢10,095.00
whilst that of the other
facility stood at GH¢289,841.15
which the Defendant failed to
pay thus the Plaintiff’s action.
In a statement of defence the
Defendant admits taking the two
facilities. However he disputes
the interest rates. He also
claims he has fully settled the
auto loan in or around December,
2009. He however admits
providing security for the said
loans. The Defendant complains
that because of his insufficient
literacy rate the Plaintiff
should have explained the terms
of the facilities through a
jurat which Plaintiff failed to
do. The Defendant then
counterclaims for various
declaratory reliefs and orders
which is not worth setting out
for he did not appear at the
trial to testify.
In reply the Plaintiff admits
the Defendant paid off the auto
loan but that was six days after
the writ was issued. The
Plaintiff also says the
Defendant has never showed that
he is illiterate so that there
was no need for a jurat.
From the pleadings the relevant
issue thus remaining is whether
the Plaintiff is entitled to
recover the sum of GH¢289,841.45
and interest of 6% from
29-11-2009 to date of payment.
As indicated the Defendant and
his Counsel did not appear at
the trial. The Plaintiff
representative, Rachael Aku
Adjamatey appeared and gave
undisputed evidence. He
tendered the Loan Agreement
(Exhibit A) which showed that
the Defendant took a loan of GH¢200,000.00
from the Plaintiff at an agreed
interest rate of 6% per month
for 360 days effective
29-10-2008 to 29-10-2009.
The witness also led evidence
and tendered the mortgage
(Exhibit C) which the Defendant
used as security for the loan
facility.
Finally the witness tendered the
statement of account of the
Defendant (Exhibit D) which
shows that as at 29-11-2009 the
Defendant was indebted to the
Plaintiff in the sum of
GH¢289,841.15.
From the above undisputed
evidence it is clear the
Plaintiff is entitled to
judgment in the sum of
GH¢289,841.15 and interest of 6%
per month thereon from
29-11-2009 to the final date of
payment. This sum if the
Defendant fails to pay the
Plaintiff is entitled to sell
off the landed property of the
Defendant at South Odorkor,
House No. 88, block 12 as well
as four plots of land at
McCarthy Hills covered by the
mortgage deed.
The Plaintiff is also awarded
cost of GH¢5,000.00
COUNSEL
1.
NII KWEI AMASAH FOR THE
PLAINTIFF
2.
EKOW DADSON FOR
DEFENDANT(ABSENT)
(SGD.) UUTER PAUL DERY
JUSTICE OF THE HIGH COURT |
