BROBBEY JA. The facts which gave rise to the litigation between the parties to this case are as follows: One Charles Oduro Newman and Kwadwo Adom Isaac jointly took a loan from the First Ghana Building Society to build a house on plot No 4, 9A, Dadiesoaba in Kumasi. The house thus became jointly owned by the two men. As security for the repayment of that loan, they mortgaged the house to the First Ghana Building Society which I will refer to hereafter as ‘the building society’. According to PW1 who was one of the joint owners, they were to repay the loan by monthly instalments of £40. The loan was taken from the building society in 1959. The repayment fell into arrears. By 1964 the two mortgagors jointly owed £500 on the monthly repayments in addition to the outstanding capital of £2,050. The building society threatened to sell the house.
In these circumstances, the two mortgagors approached one Kwame Nyieni for financial assistance. Nyieni was a money-lender. From the evidence of PW1,…