BUKARI VRS NASIRU & ANOTHER (A2/75/23) [2024] GHADC 406 (26 March 2024)

BUKARI VRS NASIRU & ANOTHER (A2/75/23) [2024] GHADC 406 (26 March 2024)

Plaintiff is entitled to recover the principal loan amounts at the prevailing bank rate, less partial payment, as the contract's interest and penal rates are unlawful under Act 1052. The 2nd defendant is not a proper party as he did not sign collateral documents.

Citation
BUKARI VRS NASIRU & ANOTHER (A2/75/23) [2024] GHADC 406 (26 March 2024)
Parties
Plaintiff: Moro Bukari; 1st Defendant: Yakubu Nasiru; 2nd Defendant: Abdulai Sulemana
Court
ghadc
Jurisdiction
Ghana
Judgment Date
26 March 2024
Procedural Posture
Commercial Contract / Final Judgment
Outcome
judgment for plaintiff in part
Legal Topics
Loan Recovery, Interest Rates, Collateral, Party Joinder, Unlawful Contract Terms
Source Language
eng
Contract Law Banking and Finance Loan Recovery Interest Rates Collateral Party Joinder Unlawful Contract Terms

Case Brief

Summary, issues, holding and outcome

More case intelligence is available

Unlock the full research layer for this judgment.

Full judgment text Downloadable case file Legal principles 4 Authorities cited 8 Party arguments 2 Amounts and remedies 3
Sign in to unlock

Parties

Moro Bukari

Plaintiff

Yakubu Nasiru

1st Defendant

Abdulai Sulemana

2nd Defendant

Procedural Posture

Commercial Contract / Final Judgment

Legal Issues

  1. 1 Whether the plaintiff is entitled to recover the outstanding loan balance and interest from the defendants
  2. 2 Whether the penal and interest rates in the loan agreement are lawful under Act 1052
  3. 3 Whether the 2nd defendant is a proper party to the suit

Ratio Decidendi

Plaintiff is entitled to recover the principal loan amounts at the prevailing bank rate, less partial payment, as the contract's interest and penal rates are unlawful under Act 1052. The 2nd defendant is not a proper party as he did not sign collateral documents.

Court Disposition

judgment for plaintiff in part

Orders

  • Recovery of loan number 00470 at prevailing bank rate from 14th October, 2022 till date of final payment, less GHS10,000.00 paid by 1st defendant
  • Recovery of loan number 00471 at prevailing bank rate from 14th October, 2022 till date of final payment