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JUDGMENT
JUDGMENT
INTRODUCTION
1. This judgment relates to recovery money.
2. The plaintiff described herself as a money lender trading under the name and style,
“Abarichie Money Lending Services”. The 1
st defendant took loans from the plaintiff
and the 2nd defendant guaranteed for the said loans.
3. On 29th April, 2022 the plaintiff instituted this action against the defendants, jointly
and severally, for the following reliefs:
a. Damages for breach of contract.
b. Recovery of GHS83,800.00 being 1
st defendant’s total indebtedness towards
plaintiff as at February 2022.
c. Interest on the said sum at the rate of 20% per month from March 2022 to
date of final payment.
d. Costs, including legal fees.
4. The defendants have never attended court but they filed a defence through their
lawyers. According to defendants, the interest of 20% per month was contrary to law.
Plaintiff also filed a reply disputing defendants’ assertion. Counsel for both parties
indicated intention to settle but plaintiff returned that settlement had broken down.
Thereafter, counsel for defendants or defendants have failed to attend court. I shall
deal with their absence in court later in this judgment.
5. I must say that this case has suffered numerous change of solicitors by both plaintiff
and defendants. Also, plaintiff would undertake processes contrary what was
directed by the court. Hence, this case has suffered several adjournments.
6. Below are the respective cases of the parties.
PLAINTIFF’S CASE
7. Plaintiff’s case is that from March 2020 t0 June 2020, she disbursed various sums of
money to the 1st defendant as loans at an interest rate of 20% per month. The first loan
dated 24th March, 2020 was for GHS3,000.00, to be repaid by 31st March, 2020. The
second loan dated 7th May, 2020 was for GHS10,000.00, to be repaid by 7th July, 2020.
The third loan dated 11th June, 2020 was for GHS3,000.00, to be repaid by 31st July,
2020. According to plaintiff, all the above transactions were personally guaranteed by
the 2nd defendant to be jointly and severally liable should 1
st defendant default with
repayment. 2nd defendant used a plot of land lying and situate at Plot No. 361, Fuo
Extension Residential Area, Tamale as the collateral. Plaintiff averred that as at
February, 2022 all the three loans together with interest stood at GHS83,800.00.
Defendants, however, have failed to pay the outstanding debt despite repeated
demands. Hence, this present a