JUDGMENT
BAFFOE-BONNIE AG. CJ:
Indeed he who is quick to borrow is slow to pay. The 1st Defendant entered into a loan agreement with the Plaintiff for an amount of money in the year 2011. The amount was duly given to the 1st Defendant however when it was time for the repayment of the loan in 2013, the 1st Defendant says it is not responsible for the repayment of the money. For over twelve (12) years, the parties are still in court fighting over who is to repay the said amount. What really went on? The facts giving rise to the matter before us are as follows.
For purposes of brevity, we shall refer to the Plaintiff/Respondent/Respondent as Plaintiff and the Defendants/Appellants/Appellants as the Defendants. The Plaintiff averred in their Statement of Claim that a short term loan facility of GHC 850,000.00 was advanced to the 1st Defendant on 23rd May, 2011. As directors of the 1st Defendant Company, 2nd and 3rd Defendants gave securities for the repayment of the facility by executing a …