Active Automobile Spares Limited v Crane Bank Limited and Another (Civil Appeal 63 of 2000)
Observed later treatment
No later-treatment classification is recorded for this judgment.
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Holding
The Court of Appeal dismissed the appeal and cross-appeal, upholding the High Court finding that the first respondent bank was not liable to refund US$97,000. The appellant had purchased dollars from the bank, not requested a money transfer, and the completed banking transaction ended when the appellant's employee took away the dollars. The later transaction, in which the second respondent collected and sold the dollars, occurred without the bank's knowledge and was a frolic of the second respondent's own; the bank could not be held vicariously liable. The second respondent was wholly liable to the appellant for the money.
Outcome
Appeal and cross-appeal dismissed; first respondent bank not liable; second respondent wholly liable to appellant
Facts
On 18 June 1998 the appellant's employee (PW2) deposited a Gold Trust Bank draft of shs.120,764,562 with the first respondent bank, allegedly instructing it to transfer UK £60,382 to a London company. The next day the bank, saying it lacked sufficient pounds, gave PW2 US$97,000 which he took to the appellant's premises. That afternoon PW2 telephoned the second respondent, a bank forex manager, asking him to collect the dollars and send pounds instead. The second respondent collected the dollars, gave an acknowledgement on bank letterhead and a personal postdated cheque, then sold the dollars at Kikubo and deposited part of the proceeds with the bank. He was later arrested for fraud. Neither the pounds were sent nor the dollars returned. The bank denied knowledge of the second respondent's dealings after PW2 took away the dollars.
Issues
- Whether the appellant ever requested the first respondent to transfer pound sterling on its behalf to a UK beneficiary.
- Whether the appellant received US$97,000 in consideration of a bank draft deposited with the first respondent.
- Whether the transactions between the second respondent and the appellant after the appellant received US$97,000 from the bank were binding on the bank.
- Whether the second respondent incurred any liability.
- Whether the trial court's order on costs was correct.
Orders
- Appeal dismissed.
- Cross-appeal dismissed.
- The appellant and the cross-appellant (second respondent) to jointly and severally pay the first respondent's costs of the appeal.
- In the High Court, the appellant to pay the first respondent's costs; as between the appellant and second respondent, each to bear own costs.
Rules and key headnotes
Cases cited (1)
- Peters v Sunday Post Ltd (1958) EA 424
Full judgment
The original judgment as reported. Read the original PDF before relying on any passage.