Ratio DecidendiRatio DecidendiRatio Decidendi



NANA OSEI AFRIFA
V.
EUGENE K. CHINEBUAH AND HUMPREY TENZAGH

(2019) JELR 63874 (HC)    
High Court  ·  SUIT NO: CM/BDF/0072/2017 ·  15 Mar 2019 ·  Ghana
CORAM
HIS LORDSHIP ERIC KYEI BAFFOUR ESQ. JUSTICE OF THE HIGH COURT

Ratio Decidendi

Core Terms Beta
defendants
interest
plaintiff
contract
court
money
interest rate
law
illegal contract
compound interest
high court
licensed money lender
money lenders act
account of the special disability
additional days
civil procedure
consideration of the parties
date of final payment
determination of the matter
doctrine of equitable unconscionability
dominant party
equivalent rate of the dollar
ex turpi
ex turpi causa
fast track
general principles
interest charge
lenders act
loan agreement
loan contract
lord mansfield
main cause
matter of law interest
necessary documents
ninety ghana cedis
only issue
outstanding amount
person carries
recovery of an amount
specific penalties
such judgment
time payment
trial of the cause
unconscionable bargain
undue influence
way of legal arguments

Plaintiff had sought in his writ the recovery of an amount of One Million and Twenty Nine Thousand Five Hundred and Ninety Ghana Cedis (GH¢1,029,590.00) being the outstanding amount claimed to be owed to the Plaintiff as well as interest on the amount from 1st, February, 2017 till date of final payment. The other reliefs may not be necessary for the determination of the matter now before the court.

Plaintiff posit that he did enter into a transaction with Defendants wherein he advanced an amount being cedi equivalent of One Hundred Thousand US Dollars ($100,000.00) to the Defendants. That the Defendants were to repay the money together with interest at 50% within ten days with five additional days as grace period. That Defendants failed to repay the monies within the ten days plus the additional five days as per the agreement the monies unpaid will attract a compound interest of 1% per each day of default.

1st Defendant did not deny the granting of such a loan by Plaintiff but only clai…

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