SAPPEVA ENTERPRISE LIMITED VS THE ATTORNEY GENERAL

This case involves a settlement agreement between the Plaintiff and MASLOC (Micro-Finance and Small Loans Centre) regarding a contract dispute. The Plaintiff initially sought GH¢17,000,000.00 for a contract entered on 11th November, 2016. The parties agreed to settle out of court with new terms, including: 1. Reduction of tricycle unit price from GH¢8,500.00 to GH¢7,000.00. 2. Adjustment of the value of 145 tricycles already supplied to GH¢1,015,000.00. 3. Reduction of penal interest on loans by 50%. 4. A new agreement for the Plaintiff to supply 1,630 additional tricycles at GH¢7,000.00 each. 5. A new contract sum of GH¢11,169,820.00, to be paid in installments. 6. The Plaintiff to provide a bank guarantee and a one-year warranty for the tricycles. 7. MASLOC to retain 10% of the contract sum for one year. The settlement was signed on 29th March, 2019, and filed with the court on 1st April, 2019. The court adopted these terms as a Consent Judgment, making it binding on both parties. This case demonstrates the legal principle that parties can settle disputes out of court and have their agreement adopted as a court judgment.