DANIEL GIBSON DANSO v. INTECELL INVESTMENT LTD. & ORS

PROF. MENSA-BONSU (MRS.), JSC:-

INTRODUCTION

This case has travelled a painful and tortuous road, and comes to this Court on appeal from a decision of the Court of Appeal in a judgment delivered on 18th July 2019. The genesis of the appeal was that the High Court, had on 24th January, 2018, dismissed the application of the 2nd, 3rd and 4th Defendants (hereinafter referred to as ‘Defendants) for Misjoinder under Order 4 r 5 of the High Court (Civil Procedure) Rules 2004 as amended; and had also upheld the 1st February application for Summary Judgment of the applicant (hereinafter referred to as ‘Plaintiff’) under order 14 of the High Court (Civil Procedure) Rules 2004 as amended. This Ruling of the High Court granting the application of plaintiff for Summary Judgment was subsequently affirmed by the Court of Appeal on 18th July, 2019, giving rise to the instant appeal. The Respondent and Appellants herein are simply referred to as ‘Plaintiff’ and ‘Defendants’ respectively, to avoid confusion.

FACTS

The facts of the case were that in May 2011, the plaintiff who had been introduced to the Defendant-Company by another person, entered into an agreement with the Company, variously described as a ‘Microfinance Company’ by the plaintiff and an ‘Investment Company’ by the Defendants. The 2nd defendant was designated as ‘Ag Managing Director’, and the 3rd and 4th defendants were the other Directors. The plaintiff believed he was investing his funds for monthly returns of 3% interest, for one year. The agreement, which described the Plaintiff as ‘Lender’ and the Defendant-Company as ‘Borrower’, was for a period of twelve months, subject to either party’s right to termination or extension upon serving three months’ notice. Under the agreement, the Plaintiff agreed to lend GHc 80,000 to the Defendants at the rate of 3% interest per month. This monthly interest on the principal sum amounted to Ghc2,400. The total interest expected under the agreement was Ghc28,200. The agreement was signed by the Ag. Managing Director (2nd defendant) witnessed by the Accountant Jesse Maxwell Caleb, on the part of the Company, and by the Plaintiff, witnessed by Mrs. Theresa Kuma, the person who introduced the Plaintiff, to the Defendant-Company.

Barely four months into the agreement, in August 2011, the Plaintiff asked for a return of half of his investment ie Ghc 40,000, on grounds of pressing financial need. The Defendant-Company did not give him the money but instead, continued t