Ndk Financial Services Vrs Ahaman Enterprises Ltd and Others [2016] GHASC 75 (10 March 2016)

Ndk Financial Services Vrs Ahaman Enterprises Ltd and Others [2016] GHASC 75 (10 March 2016)

The Supreme Court clarified that the judgment required payment to be made jointly, not jointly and severally, and that the interest payable was compound at 6.5% per month from the date of contract to the date of filing the appeal in the Court of Appeal.

Citation
[2016] GHASC 75
Parties
Plaintiff/appellant/respondent: NDK Financial Services Ltd; 1st Defendant: Ahaman Enterprises Ltd; 2nd Defendant/respondent/applicant: Attorney General; 3rd Defendant: Alex A. Aduko
Court
Supreme Court
Jurisdiction
Ghana
Judgment Date
10 March 2016
Procedural Posture
Civil Motion / Application for Clarification of Judgment
Outcome
application granted in part
Legal Topics
Clarification of Judgment, Joint Liability, Interest Computation
Source Language
English
Contract Law Civil Procedure Clarification of Judgment Joint Liability Interest Computation

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Parties

NDK Financial Services Ltd

Plaintiff/appellant/respondent

Ahaman Enterprises Ltd

1st Defendant

Attorney General

2nd Defendant/respondent/applicant

Alex A. Aduko

3rd Defendant

Procedural Posture

Civil Motion / Application for Clarification of Judgment

Legal Issues

  1. 1 Whether the expression 'jointly and severally' was properly used in the enforcement certificate.
  2. 2 Whether the interest payable under the contract is compound or simple interest.
  3. 3 What is the correct period for computation of interest under the contract.

Ratio Decidendi

The Supreme Court clarified that the judgment required payment to be made jointly, not jointly and severally, and that the interest payable was compound at 6.5% per month from the date of contract to the date of filing the appeal in the Court of Appeal.

Court Disposition

application granted in part

Orders

  • Rectification of certificate to reflect payment to plaintiffs jointly by 1st Defendant and 2nd Defendant.
  • Interest payable under the contract is compound interest.