MENSAH-HOMIAH (MRS.) J.
The 2nd Defendant herein has been sued as a guarantor and mortgagor in respect of a loan facility of GH¢50,000.00 extended to the 1st Defendant by the Plaintiff Bank which remains unpaid even though a final judgment in default of appearance has been taken against the 1st Defendant. The Plaintiff claims that the Defendants have failed to pay the outstanding balance of GH¢79,876.18 together with the agreed interest of 32% per annum plus 3.5% per annum as penalty interest on unpaid balances.
On his part, the 2nd Defendant denied having any dealing with the Plaintiff Bank. He alleged in his statement of defence that he gave out his lease to one Isaac Opoku Danso who needed a collateral security for a loan. Later, the said Isaac Opoku Danso allegedly led Mrs. Betty Kyei Asante to him and rather requested that the lease be offered to this lady to secure a loan from the 1st Defendant. The 2nd Defendant further averred that he executed a memorandum of agreement w…