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BUCKLE v. BASSIL AND ANOTHER

April 24, 1967

COURT OF APPEAL

CORAM

  • OLLENNU
  • AZU CRABBE
  • APALOO JJ.A

Areas of Law

  • Property and Real Estate Law
  • Equity and Trusts
  • Banking and Finance Law
  • Civil Procedure
  • Evidence Law

AI Generated Summary

This Ghana Court of Appeal case concerns the Chief John Quartey family in Accra, who faced a ,457 5s. 6d judgment debt to liquidators Alfred Ernest Jones and Sir William McLintock of L.C. Ltd. The family approached the defendants for funds and executed deeds in 1944 and 1945 demising their High Street property for decades in consideration of ,555 11s. 2d. The High Court treated the documents as leases, inferring reserved rent from the lump-sum. On appeal, Ollennu J.A. held the transaction was substantially a moneylending arrangement secured by the property, relying on agreed facts and recitals, the Loans Recovery Ordinance, and equitable principles that look to substance over form. He found the returns unconscionable, ordered accounts, and redemption at 12.5% interest under the Moneylenders Ordinance. Azu Crabbe J.A. concurred; Apaloo J.A. dissented, insisting the deeds were leases. The appeal was allowed and costs awarded to the appellant.

JUDGMENT