KWADWO BOACHIE-ADJEI VS MR. SYLVESTER MENSAH & ANOR
2024
HIGH COURT
GHANA
CORAM
- HIS LORDSHIP FRANCIS OBIRI J.
Areas of Law
- Contract Law
- Evidence Law
- Civil Procedure
2024
HIGH COURT
GHANA
CORAM
AI Generated Summary
In this civil case, the Plaintiff sought repayment of over USD 264,000 provided to the Defendants for a VOIP venture. The court analyzed whether these were loans or investments, concluding that the Defendants must refund USD 259,240, citing estoppel by conduct and prevention of unjust enrichment. No interest or additional costs were awarded due to currency depreciation and the parties' relationship.
The Plaintiff per his Writ of Summons is asking the court to grant the following reliefs against the Defendants: (a) The sum of One Hundred and Thirty Thousand United States Dollars (USD 130, 000), comprising two principal sums of USD 70, 000 each (less the USD 10, 000 repayment made to the Plaintiff) transferred to the Defendants on 26th April 2013, and 15th August 2013, which were due for repayment commencing from August 2014 to August 2015 as per the agreement with the 1st Defendant.
b) Interest on the above sum calculated at the prevailing commercial lending rate from August 2015, when the scheduled repayments on the first two principal sums were due for completion, until the date of final payment.
c) The sum of One Hundred and Fifty Thousand United States Dollars (USD 150, 000), being the final principal sum transferred to the Defendants on 28th August 2013, and was due for repayment from August 2014 as per the agreement with the 1st Defendant.
d) Interest on the above sum, calculated from August 2013 at the agreed rate of ten percent (10%) per annum until the date of final payment.
e) Costs, inclusive of professional fees.
f) Any other orders as the Honourable Court may deem fit.
The Defendants filed notice of entry of conditional appearance on 10th September 2019. The Defendants filed their Statement of Defence on 6th January 2020. At the close of pleadings, the following issues were set down for trial: I. Whether or not the nature of the funds raised by the Plaintiff were loans or personal contributions of the Plaintiff to the business venture.
Whether or not the Defendants are indebted to the Plaintiff by reason of the funds raised by Plaintiff for the Defendants in the proposed business venture.
Whether or not the Defendants promised to repay the funds as raised by the Plaintiff.
Whether or not Plaintiff was aware that all the monies transferred towards the venture to 1st Defendant were being paid to Sawtel Ghana Limited or its CEO, Eric Koffie Asare.
V. Whether or not the Plaintiff is entitled to his claim.
Any other issues arising from the pleadings.
When the case came up for hearing, the Plaintiff testified on oath and was cross-examined by the Defendants counsel.
The Plaintiff did not call any witness.
When the Defendants took their turn, the 1st Defendant testified on his behalf and on behalf of the 2nd Defendant.
The 1st Defendant was cross-examined.
The Defendants did not call any witness.
The parties tendered documents in