Ocloo Vrs Wilson [2023] GHACC 352 (8 June 2023)

Ocloo Vrs Wilson [2023] GHACC 352 (8 June 2023)

The plaintiff failed to prove that GH₵4,000.00 was advanced, but the defendant admitted to receiving GH₵3,500.00. The promissory note established a 25% per month interest rate, which the defendant cannot deny. The defendant failed to prove the plaintiff took his mother’s tools. Judgment is entered for the plaintiff for GH₵3,500.00 plus interest.

Citation
[2023] GHACC 352
Parties
Plaintiff: Victor Ocloo; Defendant: Michael Wilson
Court
Circuit Court
Jurisdiction
Ghana
Judgment Date
8 June 2023
Procedural Posture
Civil / Judgment
Outcome
Judgment for the plaintiff in part
Legal Topics
Loan Agreement, Interest Rate, Burden of Proof, Promissory Note
Source Language
English
Contract Law Loan Agreement Interest Rate Burden of Proof Promissory Note

Case Brief

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Parties

Victor Ocloo

Plaintiff

Michael Wilson

Defendant

Procedural Posture

Civil / Judgment

Legal Issues

  1. 1 Whether the plaintiff granted a loan of GH₵4,000.00 to defendant at an interest rate of 25% per month
  2. 2 Whether the defendant signed a promissory note to pay back the loan with interest
  3. 3 Whether the defendant has paid the loan or part thereof

Ratio Decidendi

The plaintiff failed to prove that GH₵4,000.00 was advanced, but the defendant admitted to receiving GH₵3,500.00. The promissory note established a 25% per month interest rate, which the defendant cannot deny. The defendant failed to prove the plaintiff took his mother’s tools. Judgment is entered for the plaintiff for GH₵3,500.00 plus interest.

Court Disposition

Judgment for the plaintiff in part

Orders

  • Plaintiff to recover GH₵3,500.00 with interest calculated from April 2017 to August 2018
  • Defendant to pay interest on GH₵3,500.00 at the prevailing bank rate from August 2018 to June 2023