OCTILLIONS FZE VRS. SAHARA ROYAL GOLD REFINERY AND ANOTHER (CM/RPC/0100/2020)
OCTILLIONS FZE VRS. SAHARA ROYAL GOLD REFINERY AND ANOTHER (CM/RPC/0100/2020) [2024] GHAHC 153 (9 July 2024)
The Defendants breached the Gold Sale and Purchase Agreement by failing to deliver the contracted quantity of gold for which they received payment, and failed to refund the outstanding sums and deposit as required by the contract. The Plaintiff's assayer's report was contractually binding for determining quantity and price. The Defendants' allegations of fraud and frustration were unsupported by evidence. The Plaintiff is entitled to the sums claimed, agreed damages for non-delivery, and interest. The Defendants' counterclaim is dismissed for lack of proof.
Source excerpt
- Breach of contract
- Sale of goods
- Personal guarantee
- Damages for non-delivery
- Counterclaim dismissal