Buyanja Cooperative Savings & Credit Society Ltd v Ndyamuhaki Edward and Others (Civil Suit No. 11 of 2024)
Observed later treatment
No later-treatment classification is recorded for this judgment.
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Holding
The court held that where a principal borrower and guarantors default on a loan agreement executed with a cooperative society, the plaintiff is entitled to recover the outstanding loan balance jointly and severally from all defendants. The court awarded the liquidated sum of Ugx. 64,273,011/= plus general damages of Ugx. 5,000,000/= for breach of contract, with interest at 10% per annum on general damages from judgment until payment, and costs to the plaintiff.
Outcome
Judgment entered for the plaintiff with recovery of outstanding loan, general damages, interest on general damages, and costs
Facts
The 1st Defendant, a member of the Plaintiff cooperative society, obtained a loan of Ugx. 50,000,000/= on 27 August 2021 at 2.5% monthly interest, repayable over two years, secured by two pieces of land at Kigaaga and Kahoko in Rukungiri District. The 2nd and 3rd Defendants executed guarantees committing to pay if the principal borrower defaulted. All three defendants breached the agreement by failing to honour their obligations. By the time of suit, the outstanding balance stood at Ugx. 64,273,011/= inclusive of interest and penalties. All defendants were served with summons but none filed a defence, leading to an ex parte hearing under Order 9 Rules 10 and 11 of the Civil Procedure Rules.
Issues
- Whether the Plaintiff is entitled to recover Ugx. 64,273,011/= from the Defendants.
- Whether the Plaintiff is entitled to general damages for breach of contract.
- What other remedies are available to the Plaintiff.
Orders
- The Plaintiff is awarded Ugx. 64,273,011/= as the outstanding loan amount against the Defendants jointly and severally.
- The Plaintiff is awarded Ugx. 5,000,000/= as general damages for breach of contract.
- Interest at 10% per annum on the general damages from the date of judgment until payment.
- Costs of the suit are awarded to the Plaintiff.
Rules and key headnotes
Legislation cited (7)
Cases cited (4)
- Ronald Kasibante v Shell Uganda Ltd (HCCS No. 542 of 2006)
- Kibimba Rice Ltd v Umar Salim (SCCA No. 17 of 1992)
- Takiya Kashwahiri and Another v Kajungu Denis (CACA No. 85 of 2011)
- Uganda Revenue Authority v Stephen Mbosi (SCCA No. 26 of 1995)
Full judgment
The original judgment as reported. Read the original PDF before relying on any passage.