ROGER KORSAH J.: On 19 February 1971, a deed of mortgage and a general charge were made and executed on the one part by the plaintiff as mortgagor and Gum Trading Co., Ltd., a company of which the plaintiff was the managing director and majority shareholder, as chargor, and on the other part, by the first defendant as mortgagee and chargee.
Under the said deed of mortgage and general charge, the plaintiff sub-demised to the first defendant, his leasehold property with buildings thereon, situate at Bawku in the Kusasi District of the Upper Region of Ghana, for all the residue of the term created by the said lease except the last day thereof, as part of the security for a loan of ¢70,000 granted to the plaintiff by the first defendants. As a collateral security for the said loan, Gum Trading Co., Ltd. created in favour of the first defendants, firstly, a specific charge on all its plant, machinery, vehicles and stocks involved in and engaged upon its undertaking and business, and secondl…