DR. FRANCIS ATO KOBBINA VS OAK TREE MEDICAL SERVICES LIMITED
2024
HIGH COURT
GHANA
CORAM
- HIS LORDSHIP JUSTICE JOHN-MARK NUKU ALIFO “J”
Areas of Law
- Contract Law
- Civil Procedure
2024
HIGH COURT
GHANA
CORAM
AI Generated Summary
This case involves a settlement agreement between the Plaintiff and Defendant regarding a breach of a sale and purchase agreement. The Plaintiff initially filed a lawsuit seeking declarations of breach, specific performance, and damages. After negotiations, the parties reached a settlement agreement, which was then adopted by the court as a Consent Judgment. The key terms of the settlement include a total judgment debt of US$96,880.40 or its Ghana Cedi equivalent, to be paid in installments according to a specified payment plan. The agreement also includes provisions for solicitor's costs and a default clause specifying consequences for non-compliance. The case demonstrates the principle of parties' right to settle disputes through negotiation and the binding nature of consent judgments when adopted by the court. It also showcases how specific performance terms and default clauses can be incorporated into settlement agreements in contract law cases.
CONSENT JUDGMENT
WHEREAS:
1. By a Writ of Summons accompanied by a Statement of Claim issued out of the Registry of the Honourable Court sometime on 28 th April, 2023 Plaintiff instituted the above action against Defendant seeking against it (Defendant)the following reliefs; a) A declaration that the Defendant has breached the terms of the sale and purchase agreement signed on 20 th June, 2017 by the non-payment of the full consideration of the property in question.
b) An order of specific performance of the said contract.
c) An order directed at the Defendant to pay $131, 000 to the Plaintiff being the remainder of the purchase price of the said property.
d) Payment of assessed interest at the current banking rate from the date payments were due as per the contract.
e) Damages for breach of the contract terms. f) Cost including solicitor’s cost. g) Any further orders as the Court may deem fit.
th 2. The Defendant filed an appearance to the Plaintiff’s action sometime on 8 May, 2023. 3. The Parties after negotiations have agreed upon the terms herein contained in compromise of the action as commenced by Plaintiff against Defendant and in full settlement of the matter before the Court.
B. THE PARTIES NOW THEREFORE MUTUALLY AGREE AS FOLLOWS: 1. PAYMENT PLAN; a. The parties hereby agree that the Total Judgment Debt payable pursuant to the execution of these terms of settlement shall be the cumulative sum of Ninety-Six Thousand, Eight Hundred and Eighty United Stated Dollars and Forty Cents (US$96, 880. 40) or its Ghana Cedi Equivalent, being the sum of One Million, One Hundred Fifty-Nine Thousand two Hundred and Seventy Ghana Cedis(GH₵1, 159, 270. 00), inclusive of any and / or all interest accrued thereon as at 27 th December, 2023. b. The Plaintiff hereby agrees to receive from the Defendant and the Defendant agrees to pay to the Plaintiff, upon execution of these terms of the settlement, the sum of Twenty-Five Thousand Ghana Cedis(GH₵25, 000. 00) in Six (6) equal monthly instalments, beginning the 29th of February, 2024 and on the 30 th day of each subsequent month until 30th August, 2024. c. The Plaintiff further agrees with the Defendant that from the 30 th day of September, 2024 Defendant shall pay to Plaintiff the sum of Thirty Thousand Ghana Cedis (GH₵30, 000. 00) and on the 30th day of each subsequent month in equal monthly installments until the remaining balance of the Total Judgment Debt of US$96, 880. 40 or its Ghana Cedis equivalent of