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JUDGMENT
DOTSE , J.A:- This is an appeal from the judgment of the High Court, Accra
dated 16th July, 2004. In that judgment, the learned trial justice of Appeal,
sitting with additional responsibility as a High Court Judge, delivered judgment
in favour of the Plaintiff/Respondent, hereafter referred to as the Plaintiff and
against the Defendant/Appellant hereafter referred to as the Defendant.
In the High Court, the Plaintiff claimed against the Defendant, the following
reliefs:-
(a) Payment of the sum of $37,400 or its equivalent in cedis at the current
exchange rate.
(b) Interest on the aforesaid sum of money from December 1991 until
judgment.
FACTS
Due to the special circumstances of this case, it is necessary to set out in
some detail the facts of the case.
The Plaintiff commenced the instant suit against the Defendant on 16th July,
1992. The action arose as a result of an agreement entered into between the
parties in or about September, 1991. By that agreement, the Plaintiff was to
transfer an amount of $17,000 to the Defendant’s Barclays Bank PLC, 414
Kennington Road, London.
The said amount was duly transferred and was to attract interest at the rate of
120% in favour of the Plaintiff every three months.
By the Plaintiff’s calculation, the interest and the principal amount due and
owing was this amount of $37,400 at the time of the inception of the writ of
summons on 16th July, 1992.
The Defendant resisted the plaintiff’s claims and contended that the
agreement entered into between them was to be a joint business with the
plaintiff providing the capital and the Defendant labour. The Defendant
therefore contended that, it was the type of business they decided to enter
into which did not move fast enough on the Ghanaian market. This was due to
the fact that the particular drugs he the Defendant imported into the country
was unknown to the market.
On the 10th day of March, 1993, summons for Directions and the Additional
issues were set down for hearing by the learned High Court Judge.
Actual hearing of the suit commenced on 5th day of July, 1993 at the High
Court when the plaintiff’s Lawful Attorney, Pastor Felix Asare testified.
The Defendant on the other hand testified on 4th November, 1993 and called
one witness, DW1 Seth Ofosu Asiamah.
On the 12th day of May, 1994, the Defendant closed his case whereupon the
learned trial judge directed both counsel in the matter to file written addresses
on or by 30th June, 1994.
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