NANA ABENA OFORI v. SARAH BUAHIN (NEE OKLE)

BACKGROUND

On 21st March 2017, the plaintiff issued a writ of summons and accompanying statement of claim against the defendant. The reliefs endorsed on the Writ of Summons are as follows:

a) Recovery of the sum of £40,760.00 being defendant’s indebtedness on the pounds sterling component of plaintiff’s investment in defendant’s business as of 1st May 2001

b) Interest on the said £40,760.00 at the prevailing interest rate from 2nd May 2001 till date of final payment.

c) Recovery of the sum of US$9,584.58 being defendant’s indebtedness to plaintiff on the dollar component of plaintiff’s investment in defendant’s business as of 19th July 2015

d) Interest on the said US$9,584.58 at the prevailing bank rate from 20th July 2015 up to date of final payment.

By a further amended statement of claim filed on 17th of April 2018, it is the case of the plaintiff that flowing from the then existing business relationship with the defendant, she advanced to the defendant the sum of

a) £1,100.00 on or about 10th April 1999,

b) £2,080.00 on or about 8th September 1999

c) US$1,400.00 on or about 20th April 1999.

According to the plaintiff, the above sums were advanced to the defendant as investment in the defendant’s business. It is the plaintiff’s case further that, the defendant offered to pay a margin of 50% as returns on the investment every two months. However, according to the plaintiff, the defendant reneged to make the payment as agreed but rather made scattered and minimal payments which caused the plaintiff to lose the value of her investment in the defendant’s business.

According to the plaintiff, in the years following, the defendant made several payments to the plaintiff totalling £5,080.00 on the pound’s sterling component advanced to the defendant whilst on the dollar component, the defendant has paid plaintiff US$8,615.42 over the years with the last payment effected on 19th July 2015. It is the plaintiff’s case that after making numerous demands on the defendant, the defendant offered to pay the plaintiff the sum of US$10,000.00 as settlement. However, the plaintiff rejected the offer. And subsequently the plaintiff instituted this action against the defendant claiming the reliefs above.

In her amended statement of defence filed on the 28th of May 2018, the defendant admitted that she was a businesswoman operating an upscale and profitable boutique in Accra and identified t