JUSTICE KWAME ARMAH vrs FREDERICK NANA TSIKWAAH & 2 ORS

This is an appeal at the instance of Plaintiff/appellant against a part of the decision of the High Court on payment of interest on a principal sum found to be owed the Plaintiff by the Defendant.

The grounds of Appeal are as follows:

i. That the judgment is against the weight of evidence ii. The trial judge erred by refusing to award interest on the principal sum notwithstanding the fact that the Plaintiff made a claim for same in his writ.

In this Appeal the parties will be referred to by the designations they held in the trial court. The Plaintiff/Appellant shall be referred to as the Plaintiff and the Defendant/Respondent the Defendant.

By way of background, Plaintiff instituted an action against the Defendant on 30th November, 2015, alleging that on the 4th day of May, 2015, at the instance of Defendant he lent to the Defendant the sum of GH₡100,000 to cushion defendant’s business. By the agreement reduced in writing by the defendant he was to repay the sum of GH₡100,000 within 2 months at an interest rate of 20% per month. The loan was secured with the Defendant’s house described as H/No. NZ 55 Zongo, Tarkwa, and for which a Photostat copy of the title deeds were delivered to the Plaintiff. The principal and interest were to have been paid by 4th July 2015.

While the said agreement was still subsisting and Defendant had failed to pay the amount due, Defendant again approached plaintiff on 4th June, 2015, to request further assistance leading to the Plaintiff lending to the Defendant a further sum of $25,000 attracting interest of 20% per month. It is Plaintiffs case that as at 6th August,

2015, the Defendant was indebted to him in the sum of GH₡100,000 and USD $25,000 with an accrued interest of GH 80,000. On even date Defendant made payment of GH₡80,000 being the interest component of the two separate loans and presented a written undertaking to pay the GH₡100,000 and US$25,000 on 6th

September, 2015. That the total of the conversion of the USD$ 25,000 into cedis in 2015 plus the GH₡100,000 amounted to GH₡210,000 and it is this amount the Plaintiff claims from the Defendant.

Consequently he sought the following reliefs:

a. Recovery of GH ₡210,000 being the total sum of GH 100,00 and $25,000 loan lent to the Defendant on 4th May, 2015 and 6th

August 2015

b. Interest on the GH ₡210,000from 6th September 2015 when the defendant promised to pay the money till time of final payment

c. *Order fo