Whereas by a Writ of Summons and Statement of Claim issued at the Registry of the High Court Accra, on 4th December, 2020, the Plaintiff claim against the Defendant the recovery of the following reliefs:
i) Recovery of the sum of Twenty Thousand United States Dollars (US$20,000.00) being financial assistance given to Defendant by Plaintiff which Defendant has refused to pay.
ii) Interest of the sum Twenty Thousand United States Dollars (US$20,000.00) from 4th March 2020 to date of final payment.
iii) General damages for breach of contract.
iv) Costs
2. The Defendant on 14th April 2021 filed a Statement of Defence and counterclaimed against the Plaintiff are as follows:
a) Declaration that Plaintiff has breached the contract between the parties.
b) General Damages for the breach of contract between the parties.
c) A declaration that the cost of air tickets supplied Plaintiff and the debts owed Plaintiff are set off.
d) Recovery of the sum of Two Thousand Eight Hundred United States Dollars (US$28,000.00) being the remaining balance of costs of air tickets supplied to the Plaintiff after setting off the remaining debts owed and the costs of the air tickets supplied.
e) Interest on the contract sum of Two Thousand Eight Hundred United States Dollars (US$28,000.00) from December 2019 to the date of final payment of the said amount.
f) Cost on indemnity basis.
3. Both Parties having met together with their Lawyers with a view to settle the above suit have negotiated and mutually agreed to resolve this matter amicably on the terms contained herein.
NOW THEREFORE, IT IS HEREBY AGREED AS FOLLOWS:
4. That Defendant HAS agreed to pay the Plaintiff and the Plaintiff has agreed to accept the sum of Seventeen Thousand United States Dollars (US$17,000.00) as full and final settlement for the Defendant’s indebtedness to the Plaintiff in the following manner:
a) To pay the total sum of Seventeen Thousand United States Dollars (US$17,000.00) as follows:
i) 31st December 2022 - US$3,000.00
ii) 31st January 2023 - US$3,000.00
iii) 28TH February 2023 - US$3,000.00
iv) 31st March 2023 - US$3,000.00
v) 30th April 2023 - US$3,000.00
vi) 31st May 2023 - US$2,000.00
b) That the Defendant agrees to make all payments of the amounts mentioned in paragraph 4 (a) above in United States Dollars upon the execution of the terms of settlement.
5. These terms of settlement shall constitute the entire understanding of the parties, conclusively settling the dispute
