Centinary Rural Development Bank Limited v Tejas ,Tanna, Dhirajlal and 2 Others (HCT-05-CV-CS 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 covered by the guarantee agreement they signed. Where a borrower obtained two loans but guarantors signed a guarantee after the first loan was advanced, the guarantee covers only the second loan. A plaintiff seeking to recover a lumpsum debt from guarantors must prove how much of that debt falls within the guarantee contract. The plaintiff failed to prove the 2nd and 3rd defendants owed the full sum claimed. Suit dismissed.
Outcome
Suit dismissed against 2nd and 3rd defendants; plaintiff may pursue debt against estate of 1st defendant or guarantors 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 signed a guarantee agreement on 27 November 2019 guaranteeing repayment up to UGX 30,000,000/= plus interest. The 1st defendant defaulted. The plaintiff sued for recovery of UGX 46,701,794/= from all three defendants. The 1st defendant died before trial. The court granted unconditional leave to defend but the matter proceeded ex-parte against the 2nd and 3rd defendants after they could not be located. The plaintiff did not serve the estate of the deceased 1st defendant. At trial, the plaintiff sought to recover the full outstanding amount from the guarantors without specifying how much of the debt related to the first loan (obtained before the guarantee was signed) versus the second loan (obtained after the guarantee was signed).
Issues
- Whether the plaintiff proved on a balance of probabilities that the 2nd and 3rd defendants owed the full sum of UGX 46,701,794/= under the guarantee agreement.
- Which of the two loans obtained by the 1st defendant were guaranteed by the 2nd and 3rd defendants.
- How much of the outstanding debt fell within the scope of the guarantee contract signed on 27th November 2019.
Orders
- Suit dismissed.
- Plaintiff to bear own costs.
Rules and key headnotes
Legislation cited (7)
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.