Aineomugosha Ritah and Another v Vetaplan Ventures Limited [2025] UGHC 1575
Observed later treatment
No later-treatment classification is recorded for this judgment.
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Holding
The court held that despite being titled Investment Partnership Agreements, the arrangements were contractual investment relationships, not legal partnerships under the Partnership Act. The defendant breached its contractual obligations by failing to pay agreed returns and refund invested sums. The plaintiffs were entitled to recover their principal investments and general damages, but exemplary damages and interest were denied as the parties had not agreed on interest for default and the conduct did not warrant punitive sanction.
Outcome
Judgment entered for the Plaintiffs with recovery of principal sums and general damages
Facts
The defendant company operated a poultry farming business and recruited investors including the plaintiffs through its representative. The 1st plaintiff made four investments totalling UGX 120,000,000 between January and May 2023, while the 2nd plaintiff invested UGX 20,000,000 in April 2023. Both plaintiffs were promised 10% monthly returns. The defendant paid returns for several months but defaulted in October 2023. The parties executed a Memorandum of Understanding whereby the defendant undertook to refund the invested sums and issued post-dated cheques. The cheques were dishonoured because the defendant's bank account had been closed. The defendant failed to file a defence and interlocutory judgment was entered.
Issues
- Whether the Defendant is in breach of the Investment Partnership agreements with the Plaintiffs.
- Whether the Plaintiffs are entitled to the remedies sought.
Orders
- The 1st Plaintiff is awarded UGX 110,000,000/= being the principal amount invested.
- The 2nd Plaintiff is awarded UGX 20,000,000/= being the principal amount invested.
- The 1st Plaintiff is awarded UGX 15,000,000/= as general damages.
- The 2nd Plaintiff is awarded UGX 5,000,000/= as general damages.
- The prayers for exemplary damages and interest are denied.
- The Plaintiffs are awarded the costs of the suit.
Rules and key headnotes
Legislation cited (6)
Cases cited (5)
- Ronald Kasibante v Shell Uganda Ltd (HCCS No. 542 of 2006)
- Hadley v Baxendale (1894) 9 Exch 341
- Robert Cuossens v Attorney General (SCCA No. 8 of 1999)
- Ahmed EI Termewy v Hassan Awdi & Others (HCCS No. 95 of 2012)
- Kinyera v Management Committee of Laroo Building Primary School (HCCS No. 099 of 2013)
Full judgment
The original judgment as reported. Read the original PDF before relying on any passage.