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JUDGMENT
The Plaintiff in this suit describes himself as a citizen of Ghana resident in Accra.
Defendant on the other hand is described as a broadcast journalist in the employment of an Accra Radio station.
Plaintiff by his amended Writ and Statement of Claim filed on the 14th of January, 2020 prayed for the following reliefs from this Court; a) Recovery of the sum of Two Hundred and Fifty-Three Thousand Five Hundred and Ninety -Nine Ghana Cedis (GH¢ 253, 599. 00. )b) Interest on the amount above from the 18th of February, 2019 to the date of final payment.
c) Recovery of the amount of Ten Thousand Nine Hundred and Nineteen Ghana Cedis Eighty-Five Pesewas (GH¢ 10, 919. 85) being interest accruing on the loan facility taken out by the Plaintiff.
d) Interest on the amount mentioned in (c) from the 18th of February, 2019 till date of final payment.
e) Recovery of the amount of One Hundred and One Thousand Four Hundred and Forty Ghana Cedis (GH¢ 101, 440. 00) representing 40%of the total amount spent by the Plaintiff as severance fee.
f) Interest on the amount above from the 28th day of February, 2019 till date of final payment.
g) General Damages for breach of Contract The Plaintiff’s case in sum is this; In or about October 2017, he entered into discussions with the Defendant with the intention of developing a parcel of land situate at East Legon Accra into an events center for hosting parties, weddings, and other like social events (the Project). The parties agreed that the Project would be christened“Park Place”. The land on which the Project was to be developed belonged to the Defendant’s mother, Cordelia Addo, who Plaintiff was made to understand had given her consent for the land to be used as agreed.
The Project was to comprise 2 phases; Phase 1 was to consist mainly of the development of areas for outdoor events including a grass field for outdoor events, a pergola lounge, a cocktail bar, bathrooms, offices and a children’s play area, whilst Phase 2 was to be an indoor club space, an event dome, an open roof top referred to “as speak easy entry”. The Parties agreed that after the completion of the first Phase, a limited liability company to be known as Park Place Ltd was to be incorporated for the purposes of operating the said events centre.
The equity in the said Company was to be held as follows 50% for Defendant 48% for Plaintiff and 2% for Cordelia Addo.
Pursuant to these discussions, the Parties completed and executed the required forms for the