Linda is a boutique owner she’s been in the business for eight years. She recently took a loan from the bank to expand her business.
This is not her first time of taking a loan from the bank, she has taken money from the bank a couple of times and has been able to pay back all the time. According to Linda she was looking forward to expanding her business. She wants to own another store in the city where she could sell more clothes and bags and make more money. Linda talked about her idea to Remy a tenant in my grandfather’s house as well. Remy is also in the business of selling clothes. But he goes from office to office to sell his stuff and he doesn’t have a store yet. Remy expressed his optimism to Linda that he would like to help her open a new store but first he is having a problem with his supplier so he would be happy if Linda could supply him with some of her clothes so he could sell.
Linda agreed to what Remy said. So Linda requested for more money than she usually did. Her intention was to buy more clothes so she could shear with Remy her new business partner. Remy was going to take these clothes on credit, he was going to pay back after he had sold them. The two of them agreed to do business together to the knowledge of no one else.
Linda gave Remy an amount of one thousand cedis worth of clothing. Linda made a list of the clothes she gave to Remy, she also gave him a copy.
According to Linda instead of Remy paying back the money and sticking to their agreement he didn’t do that. Linda said “I gave him clothes worth one thousand cedis he return to give me only three hundred cedis. I asked him where the rest of...
... middle of paper ...
... make business agreement with someone she barely knew just that they lived in the same house. And the business transaction between them wasn’t well documented.
3. To figure out what to do to reduce the likelihood that it will happened again, we advised Linda to find a better business partner someone who is more resourceful and industrious it should be someone she has known for years. We also told her not to enter into business agreement with anyone without witnesses or a lawyer. There is police officer living in the house as well, so we called him and told him about the issue. We told Remy that if he didn’t pay Linda everything he owed the officer was going to arrest him. He agreed to pay Linda her money. We later found out after that meeting that he was paying the money in bits and that his customers had already paid him but it was he who spend the money.
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