City Alluminum & Glass Services Limited and Another v Barclays Bank (U) Limited and Another (Civil Suit 867 of 2014)
Observed later treatment
No later-treatment classification is recorded for this judgment.
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Holding
The High Court dismissed the plaintiffs' claim for breach of contract. The court held that the 2nd plaintiff exceeded his authority under the power of attorney when he assigned his powers to the 1st plaintiff company to borrow funds. The 1st plaintiff's subsequent material breach by authorising sale of the security disentitled it from suing for breach. The 1st defendant bank was not bound by the memorandum of understanding between the plaintiffs and the 2nd defendant as it was not party to that agreement. The doctrine of privity prevented the plaintiffs from imposing contractual obligations on the bank arising from an agreement to which it was not party.
Outcome
Suit dismissed as misconceived with costs to the defendants
Facts
The 2nd defendant owned land jointly with another as tenants in common. She executed a power of attorney authorising the 2nd plaintiff to borrow UGX 150,000,000 from Barclays Bank using her land as collateral. The 2nd plaintiff and 2nd defendant entered into a memorandum of understanding regarding distribution of the borrowed funds. Instead of the 2nd plaintiff borrowing directly, the 1st plaintiff company borrowed the funds and a tripartite mortgage was executed with the 1st plaintiff as borrower, the bank as lender, and the 2nd defendant as mortgagor. The 1st plaintiff defaulted after one instalment. The bank recalled the loan. The 1st plaintiff then authorised the bank to sell the mortgaged property. The 2nd defendant subsequently revoked the power of attorney and redeemed the property by paying off the outstanding loan through rental income assignments.
Issues
- Whether the plaintiffs have any claim against the defendants.
- Whether the 1st defendant is bound by the memorandum of understanding between the plaintiffs and the 2nd defendant.
Orders
- Suit dismissed.
- Costs awarded to the defendants.
Rules and key headnotes
Legislation cited (5)
Cases cited (11)
- Fredrick J. K. Zaabwe v Orient Bank Ltd and Five Others (Supreme Court Civil Appeal No. 4 of 2006)
- Imperial Bank of Canada v Begley [1936] 2 All ER 367
- Williams v Hensman (1861) 70 ER 862
- Williams and Burgess v Rawnsley [1975] Ch 429
- Wilson v Bell (1843) 5 IR Eq 501
- Jackson v Jackson (1804) 9 Ves 591
- Guma Paulino v Bank of Africa (U) Ltd and Two Others (High Court Civil Suit No. 13 of 2008)
- SK Shipping (S) Pte Ltd v Petroexport Ltd [2010] 2 Lloyd's Rep 158
- Dunlop Pneumatic Tyre Co Ltd v Selfridge Ltd [1915] AC 847
- Drive Yourself Hire Co (London) Ltd v Strutt [1954] 1 QB 250
- Beswick v Beswick [1968] AC 58
Full judgment
The original judgment as reported. Read the original PDF before relying on any passage.