MBA NDEWINI VRS ATAMBA (UE/ZB/DC/A1/05/2023) [2024] GHADC 516 (21 February 2024)

MBA NDEWINI VRS ATAMBA (UE/ZB/DC/A1/05/2023) [2024] GHADC 516 (21 February 2024)

The court found that the Defendant borrowed Ghc6,500.00 from the Plaintiff, not Ghc9,100.00, based on documentary evidence and corroborated testimony. The Defendant had paid Ghc2,000.00 towards the principal, leaving Ghc4,500.00 outstanding. The agreed interest rate of Ghc200.00 per Ghc1,000.00 per month (240% per annum) was held to be unconscionable and unenforceable. The court substituted a 10% monthly interest rate from August 2023 on the outstanding principal.

Citation
MBA NDEWINI VRS ATAMBA (UE/ZB/DC/A1/05/2023) [2024] GHADC 516 (21 February 2024)
Parties
Plaintiff: Mba Ndewini Kwaku; Defendant: Simon Atamba
Court
ghadc
Jurisdiction
Ghana
Judgment Date
21 February 2024
Procedural Posture
Civil / Judgment
Outcome
Judgment for Plaintiff in part
Legal Topics
Loan Recovery, Unconscionable Contracts, Burden of Proof, Interest Rate Regulation
Source Language
eng
Contract Law Civil Procedure Loan Recovery Unconscionable Contracts Burden of Proof Interest Rate Regulation

Case Brief

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Parties

Mba Ndewini Kwaku

Plaintiff

Simon Atamba

Defendant

Procedural Posture

Civil / Judgment

Legal Issues

  1. 1 Whether the Defendant borrowed Ghc6,000.00 or Ghc9,100.00 as claimed by the Plaintiff
  2. 2 Whether the loan has been paid in full together with interest

Ratio Decidendi

The court found that the Defendant borrowed Ghc6,500.00 from the Plaintiff, not Ghc9,100.00, based on documentary evidence and corroborated testimony. The Defendant had paid Ghc2,000.00 towards the principal, leaving Ghc4,500.00 outstanding. The agreed interest rate of Ghc200.00 per Ghc1,000.00 per month (240% per annum) was held to be unconscionable and unenforceable. The court substituted a 10% monthly interest rate from August 2023 on the outstanding principal.

Court Disposition

Judgment for Plaintiff in part

Orders

  • Defendant to pay Plaintiff Ghc4,500.00 plus 10% monthly interest from August 2023 until final payment.
  • Plaintiff awarded costs of Ghc500.00 against Defendant.