The Plaintiff instituted this action on 21st December, 2018, against the Defendant forthe reliefs endorsed on the Writ of Summons and Statement of Claim, which are asfollows: a. Payment of the outstanding balance of One Hundred and Twelve Thousand Two Hundred and Eleven Ghana Cedis, Forty-five pesewas (GH₵112, 211. 54). b. Interest on the outstanding amount stated in relief (a) above at the prevailing commercial bank rate from August 2018 till date of final payment.
c. Damages for breach of contract.
d. Cost including legal fees.
The gravamen of the Plaintiff’s plaint is contained in paragraphs 3 to 14 of the Statement of Claim, a summation of which is as follows: According to the Plaintiff, on or about 25th May, 2018, he placed a ninety-one (91) dayTreasury Bill investment of One Hundred and Sixty-Eight Thousand, Eight Hundred andSeventy-Four Ghana Cedis and One Pesewa (GH₵168, 874. 01) with the Tamale Branchof the Defendant.
That subsequently, he made an additional investment of Thirty One Thousand OneHundred and Twenty-Six Ghana Cedis (GH₵31, 126. 00) at the Accra Ridge Branch of theDefendant.
The Plaintiff further states that the investments were to mature on the 28th of August, 2018, with the total amount due and payable at the maturity of the investment being Two Hundred and Twelve Thousand Two Hundred and Eleven Ghana Cedis, Forty-five Pesewas (GH₵212, 211. 45). On the date of maturity of the investments, according to the Plaintiff, he contacted andalso filed a redemption form at the Tamale Branch of the Defendant and was informedthat it would take ten (10) working days for the investments to be credited to his GhanaCommercial Bank Account, which he provided in the redemption form.
The Plaintiff further avers that the Defendant failed to pay back the investments afterthe ten (10) working days and also upon several verbal demands.
That following the failure of the Tamale branch of Defendant to co-operate and payhim, he further made a request for the payment to the Head Office of the Defendant, where he was issued with an instalment payment schedule dated 26th September, 2018. According to the Plaintiff, per the said schedule, the payment was to be effected bythree instalments on 28th September, 4th October and 16th October, 2018. The Plaintiff continues that the Defendant defaulted in paying back the investments inaccordance with the payment schedule agreed by the parties and contends that if theDefendant had adhered to the agreed schedule, th
