Introduction For many years performance bonds and bank guarantees (“Bonds”) have been an integral part of transactions in the world of commerce and the construction industry. It has been described as the lifeline of international commerce[1] and the bedrock on which large scale transactions rest. It therefore comes as no surprise that just as several...
Introduction The article continues in Part II where it continues with the forum for unconstitutional contracts by providing further explanations by way of an example. It will move on to discuss the doctrine of restitution under constitutional illegal contracts and conclude the two-part article. Forum for Resolving Unconstitutional Contracts The choice of forum for hearing...
Illegality of contracts is a concept under contract law. It generally refers to the making or performance of a contract contrary to law[1]. Thus, a contract entered into by a party contrary to law or performed contrary to law is an illegal contract. The distinguished law teacher, Dowouna-Hammond, defines illegal contracts as contracts whose “formation...
Introduction During my first day in the Law of Contract Class, the caption of this article was given to us as our first assignment. As a beginner in Law, this topic gave me a serious headache which I visualized about it for long until the Salvation Golden Book (READING THE LAW) written by Benjamin T....
The Plaintiff, a bank incorporated in Nigeria, desirous of expanding its business operations in Chad opened an account with Banque Commercial Du Chad (BCC) which is based in Chad. The Plaintiff deposited an amount of $6,000,000 into the account to meet the minimum capital requirement to open a bank in Chad.
The world is literally at a standstill because of the novel coronavirus also known as COVID-19. On 30 March 2020, the President of the Republic of Ghana under the Imposition of Restriction Act, 2020[1] restricted the movements of persons in the Greater Accra Metropolitan Area and the Greater Kumasi Metropolitan Area for a period of fourteen...
1. Introduction On 23rd December 2008, the Borrowers and Lenders Act, 2008 (Act 773) was enacted to, amongst others, improve on the existing standards of disclosure of information on lending and borrowing, and also promote a consistent loan recovery and enforcement system by lenders. To this end, the Collateral Registry was established by Act 773...
Introduction: After reading the succinct analysis on the above subject matter by Samuel Alesu-Dordzi, I am inclined to break my usual norm as a passive observer, to respond for the first time on this “going-places” portal (Ghana Law Hub). A Deposit Protection Insurance as my learned friend espoused is to do inter aliathe following; “provide the...
The Supreme Court in the case of John Affuah & Another v General Developments Company Limited[1] has held that an unsigned document may give rise to legal consequences. The Court stated that the common law has always recognized the principle that the signature of parties to an agreement was not a prerequisite to the presence...
The law of mortgages has long been considered as an appendage of the law of equity. This is obviously because of the integral role that the English Courts of Equity played in developing, refining and operationalizing the concept in order to ensure fairness and commercial efficacy. However, it seems the association of the law of...