Centenary Rural Development Bank v Tejas and Others (Civil Suit 106 of 2020)
Observed later treatment
No later-treatment classification is recorded for this judgment.
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Holding
Held that guarantors are liable only for debts incurred after the guarantee agreement was executed. Where a plaintiff seeks to recover a lumpsum comprising multiple loans but the guarantee covers only one loan obtained after the guarantee date, the plaintiff must prove how much of the claimed sum falls within the guarantee. The bank failed to distinguish between the pre-guarantee and post-guarantee loan balances. Suit dismissed.
Outcome
Suit dismissed against 2nd and 3rd Defendants; Plaintiff retains option to pursue estate of 1st Defendant or 2nd and 3rd Defendants subject to limitation
Facts
The 1st Defendant obtained two loans from the Plaintiff bank: UGX 24,000,000/= on 10 June 2019 and UGX 30,000,000/= on 27 November 2019. The 2nd and 3rd Defendants executed a guarantee agreement on 27 November 2019 for a maximum liability of UGX 30,000,000/= plus interest. The 1st Defendant defaulted. The Plaintiff sued for UGX 46,701,794/= representing the combined outstanding balance of both loans. The 1st Defendant died during proceedings. The court granted leave to the Defendants to defend, but the matter proceeded ex parte against the 2nd and 3rd Defendants after the 1st Defendant's death and the withdrawal of their counsel. The Plaintiff did not serve the estate of the 1st Defendant.
Issues
- Whether the 2nd and 3rd Defendants guaranteed both loans obtained by the 1st Defendant or only the second loan obtained after the guarantee agreement was signed.
- Whether the Plaintiff proved on a balance of probabilities that the 2nd and 3rd Defendants owed the entire sum of UGX 46,701,794/=.
Orders
- Suit dismissed.
- Plaintiff to bear its own costs, the matter having proceeded ex parte.
Rules and key headnotes
Legislation cited (5)
Cases cited (3)
- Miller v Minister of Pensions [1972] 2 All ER 372
- Kirugi and Another v Kabiya and Three Others [1987] KLR 347
- Moschi v Lep Air Services Ltd [1973] AC 331
Full judgment
The original judgment as reported. Read the original PDF before relying on any passage.