ELIZABETH KAKORAH v. NOBLE DREAM MICRO FINANCE
2015
HIGH COURT
GHANA
CORAM
- HER LADYSHIP ANGELINA MENSAH-HOMIAH (MRS.) JUSTICE OF THE HIGH COURT
Areas of Law
- Evidence Law
- Civil Procedure
- Contract Law
2015
HIGH COURT
GHANA
CORAM
AI Generated Summary
The Plaintiff invested GH¢14,597.00 with the Defendant for a six-month period at an interest rate of 18%. Upon maturity, the Defendant did not fully repay the investment and interest, leading to a legal claim for the outstanding GH¢11,224.46. The Defendant denied any dealings with the Plaintiff. The Plaintiff's testimony and partial payments received were considered, and the Defendant's failure to appear in court influenced the judgment. The court found in favor of the Plaintiff, determining she was a customer, invested with the Defendant, and was due GH¢7,224.46 plus interest from when the investment matured.
JUDGMENT
The Plaintiff's case is that she invested an amount of GH¢14,597.00 with the Defendant as a six- month fixed deposit at an interest rate of 18% for the period but the Defendant has not fully paid back her investment and the accrued interest after the maturity date.
The Defendant put up the defence that the Plaintiff has never been its customer and it has never had any dealings whatsoever with her. Hence, the Plaintiff is not entitled to her claim for GH¢11, 224.46.
The issues before this court for determination are as follows:
Whether or not the Plaintiff is a customer of the Defendant Financial Institution?
Whether or not the Plaintiff invested GH¢11,224.46 in the Defendant Institution?
Whether or not the Plaintiff is entitled to her claim?
On 14/04/2015, the Plaintiff gave evidence in court to prove her claims. Her testimony was very concise and it is as follows:
"... I know Noble Dream Micro Finance. I am one of their customers. I invested money at Noble Dream Micro Finance as fixed deposit. The money was GH¢14, 597.00 with interest of 18%. The interest was GH¢2,629.46 summing up to GH¢17,224.46. The Defendant has so far paid GH¢ 6,000.00 out of the investment to me. The first time they gave me GH¢5,000.00 and wrote it on exhibit A (Investment Certificate). The balance now is GH¢11,224.46. This balance has not been paid to me. I have made a demand for it. The defendant's assertion that I am not their customer is not true. It is not true that the Defendant has never had any dealings with me. It is not true that the Defendant is not indebted to me. I am entitled to my claim. I want the court to help me get the rest of my money."
Even though the Defendant had denied having any dealing with the Plaintiff in the statement of Defence filed on 14/11/10, its counsel in cross-examination on 14/04/2015 asked questions which lead to the irresistible conclusion that the parties have had some financial dealings. The relevant portion of the cross-examination is as follows:
Q. How much did you say the Defendant owed you?
A. GH¢11, 224.46.
Q. Is that after the money given to you at Christmas time i.e. on or before
A. When I got there the first time, they gave me GH¢ 1,000.00 and the second was GH¢5, 000.00. The Defendant's representative (Sister Pat) called me and gave me GH¢4000 but I asked her if I should tell me lawyer but she said no. She said after claiming my money, she will collect that GH¢4,000.00 back. That is why I did not say it because