Yaw Pay V. The Chief Conservator Of Forests (1954)
LawGlobal Hub Judgment Report – West African Court of Appeal
Compensation—Basis of assessment—Interest for delay in assessment—The Forests Ordinance (Cap. 122).
The appellant bought the land at public auction shortly before the notice to constitute the Forest Reserve, and the Reserve Settlement Commissioner accepted the auction price as the market price but as he delayed long in making the award he allowed interest at 2½ per cent per annum compound. One complaint on appeal was that the basis of assessment was wrong and the other that the rate of interest was too low.
It was right to assess on the market value at the date of the notice to treat, and there was evidence that the price at which the appellant had bought was fair; but the rate of interest allowed was too low and would be raised to 5 per cent per annum compound.
Appeal dismissed but rate of interest amended.