KWESI NYANTAKYI vs MESSRS PRECISE MINING COMPANY LIMITED & ORS

WHEREAS:

1. In this suit Plaintiff claims against the Defendants jointly and severally as follows:

(i) Recovery of the sum of Seventy Thousand United States Dollars (US$70,000.00) or its equivalent in Ghana Cedis being the outstanding balance on the excavator equipment sold by Plaintiff to the 1st Defendant.

(ii) Interest on the said amount at the prevailing interest rate from February 1st June, 2020 to the date of final payment.

(iii) Costs.

2. Plaintiff’s reliefs are premised on non-payment of the purchase price of an excavator equipment purchased by the 1st Defendant from the Plaintiff in September, 2019 under a Sale and Purchase Agreement.

3. In the negotiations leading to the purchase of the said excavator equipment one Stephen Ato Quayson who executed the Sale and Purchase Agreement and 2nd Defendant who witnessed same on behalf of the 1st Defendant represented to the Plaintiff to be Directors of the 1st Defendant Company.

4. The 2nd Defendant also subsequently executed an Undertaking by which 2nd Defendant assumed personal responsibility to pay part of the purchase price then outstanding.

5. The said Stephen Ato Quayson and the 2nd Defendant have approached the Plaintiff to negotiate Terms of Settlement of this matter and to assume personal liability for the payment of the sum being claimed by the Plaintiff in this suit.

6. The said Stephen Ato Quayson has agreed that he be joined to this suit and to be jointly and severally liable with the 2nd Defendant to be the Plaintiff on the reliefs contained in the Writ of Summons.

NOW IT IS HEREBY AGREED AS FOLLOWS:

7. That an Order of Joinder be made to join the said Stephen Ato Quayson of House No. N361, Nana Abena Akyeaa Avenue, Obuasi (AO – 074 – 9848 – Digital) to this suit as the 3rd Defendant.

8. That Consent Judgment be entered in favour of the Plaintiff against Stephen Ato Quayson and the 2nd Defendant jointly and severally on the following terms:

(i) Recovery of the sum of Seventy Thousand United States Dollars (US$70,000.00) or its equivalent in Ghana Cedis being the outstanding balance on the excavator equipment sold by Plaintiff to the 1st Defendant.

(ii) The Judgment – debt shall be paid in the following manner:

a. The sum of Twenty Thousand United States Dollars (US$20,000.00) to be paid on or before the 30th July, 2023.

b. The remainder to be in Five (5) equal monthly instalments of Ten Thousand United States (US$10,000.00) each from 31st August, 2023 to 31st December,