Ratio DecidendiRatio DecidendiRatio DecidendiRatio DecidendiRatio DecidendiRatio DecidendiRatio DecidendiRatio DecidendiRatio DecidendiRatio Decidendi



FIDELITY BANK GHANA LIMITED
V.
ANITA ASARE & ORS.

(2018) JELR 63664 (HC)    
High Court  ·  SUIT NO.BFS/69/16 ·  28 Mar 2018 ·  Ghana
CORAM
ANGELINA MENSAH-HOMIAH (MRS.) JUSTICE OF THE HIGH COURT

Ratio Decidendi

Core Terms Beta
document
court
exhibit
power of attorney
defendants
plaintiff bank
notary public
mortgage deed
interpretation clause
interest rate
loan of ghc
performance of the contract
court of appeal
plaintiff’s case
exhibits c
high court
prevailing bank rate
repayment of the loan
seal of the plaintiff company
supreme court
absence of an interpretation clause
agreed interest rate
anita asare
contents of the documents
copy of the loan agreement
copy of the said mortgage deed
counsel’s cross-examination
deaf persons
defendants case
execution of documents
face of exhibit d
failed attempt
financial loss
following reliefs
ghana cedis
illiterates protection act
issue of the discharge
loan facility
loans company
mortgage deed documents
performance of the purported contract
plaintiff's case
plaintiff’s representative put
purported contract
said sum

JUDGMENT

MENSAH-HOMIAH (MRS.) J.

In this action, the Plaintiff bank seeks the following reliefs against the Defendants as principal debtor and guarantors respectively:

1. An order for the recovery of the sum of One hundred and Fifty Three Thousand Nine Hundred and Thirty Six Ghana Cedis (GHC 153,936.73) being the total indebtedness of the 1st defendant from the loan facility granted by the Plaintiff Bank.

2. Interest on the said sum at the prevailing bank rate from 2nd day of March, 2016 till date of final payment.

ALTERNATIVELY,

i. An order for the judicial sale of Plot Number 32 Block L, Nhyiaeso, Kumasi.

3. Cost including Solicitor’s fee.

THE PLAINTIFF'S CASE.

The Plaintiff’s case is simple and straightforward, on 12th June, 2014, a loan of GHC 150,000.00 was extended to the 1st Defendant upon her request, for a period of 24 months at an interest rate of 35% per annum. The facility was guaranteed by the 2nd and 3rd Defendants. The 1st Defendant also secured the loan with her property number…

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