DANIEL FRIMPONG BOADU VS.NOBLE DREAM FINANCIAL SERVICES

(2015) JELR 69935 (HC)

High Court · SUIT NO.BFS/45/15 · 2 Apr 2015 · Ghana

CORAM

HER LADYSHIP ANGELINA MENSAH-HOMIAH (MRS.) JUSTICE OF THE HIGH COURT

Core Terms ^Beta

plaintiff

defendant

bank

court

amount

case

financial institution

interest

customer of a bank

customer of the defendant

evidence

financial institutions

plaintiff’s case

agreed interest rate

australian bank ltd

award of interest

business relations

civil procedure

couple of cases

customer of the defendant non-bank

day investment account

defendant fails

defendant’s institution

demand proof

documentary evidence

fiduciary transactions

financial services suit number bfs

first issue

first of these cases

high court

investment account

issues

large cash transactions

legal basis

legal duty

lord dunedin’s statement

martins bank ltd

much ado

noble dream financial services

only outstanding issue

plaintiff’s evidence

position of the english courts

post judgment interest

reasonable steps

respect of a liquidated claim of gh

said rule

second issue

simple terms

total amount

totality of the evidence

This judgment is in respect of a liquidated claim of GH¢24,420.50 and interest thereon made by the Plaintiff against the Defendant herein.

Three issues were set down for the trial. These are:

1. Whether or not the Plaintiff is a customer of the Defendant Financial Institution?

2. Whether or not the Plaintiff invested GH¢24, 420.00 in the Defendant’s institution?

3. Whether or not the Plaintiff is entitled to his claim.

The Plaintiff’s case in respect of which he gave evidence in court is that he opened an investment account with the Defendant and the terms were embodied in an investment certificate (exhibit A). According to him, the amount invested was GH¢22,100.00, the agreed interest rate was 10.5% and the total amount payable at the maturity date is GH¢24,420.50. The Defendant further testified that he has a contract with the Plaintiff that is why he has an investment certificate but the Defendant has refused to pay him despite repeated demands.

The Defendant filed a statement of defence…