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LAWRENCE YAW NTAADU v. STEPHEN BOAKYE

November 24, 2022

HIGH COURT

GHANA

CORAM

  • HIS LORDSHIP JUSTICE KWAME AMOAKO

Areas of Law

  • Contract Law
  • Property and Real Estate Law
  • Evidence Law
  • Civil Procedure

AI Generated Summary

In the Ghana High Court, His Lordship Justice Kwame Amoako adjudicated a dispute between Lawrence Yaw Ntaadu and Stephen Boakye over Hotel Mercillina, operated by Boakye as Hotel Obaapa. Their 22 April 2014 agreement priced the hotel at GH150,000, with GH40,000 paid and GH110,000 due by 31 December 2014, and included a clause allowing Ntaadu to review the transaction upon default. Boakye took possession but defaulted. Allegations that Ntaadu had pledged the hotel to ADB were treated as hearsay and rejected. The court held the review clause permitted price adjustment, not rescission, and that the contract remained in force. Considering a 2010 valuation (GH259,000) and Boakyes profitable possession, the court reviewed the price to GH300,000, ordered payment of GH260,000 plus simple interest at the 91-day T-bill rate from 1 January 2015, denied recovery of possession, and awarded GH8,000 costs to Ntaadu.

JUDGMENT