Dennis Osikol Eric v Mutebi Eric (Civil Suit No 640 of 2022)
Observed later treatment
No later-treatment classification is recorded for this judgment.
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Holding
Court held that a principal-agent relationship existed between the plaintiff and Kabagambe Mathias who executed the loan agreement on behalf of the plaintiff. The defendant was indebted to the plaintiff for UGX 70,000,000. The agreed interest rate of 6% per month (72% per annum) was harsh and unconscionable and was reduced to 2% per month (24% per annum). Special damages of UGX 70,000,000, general damages of UGX 5,000,000, and costs were awarded to the plaintiff with interest on the aggregate sum at 6% per annum from judgment until payment in full.
Outcome
Judgment entered for the plaintiff with damages and costs awarded
Facts
The plaintiff, through his agent Kabagambe Mathias, entered into a loan agreement dated 4 January 2021 with the defendant for UGX 70,000,000 payable in two installments of UGX 27,500,000 and UGX 42,500,000, with interest at 6% per month for six months. The defendant deposited his certificate of title on land in Kyadondo Block 184 Plot 793 as security and an equitable mortgage was registered. The plaintiff contended that the first installment was advanced on 4 January 2021 and the balance on 8 January 2021, but the defendant defaulted on repayment. The defendant contended that the loan agreement was frustrated because the amounts were never advanced by the plaintiff, but rather that Kabagambe Mathias personally lent him UGX 45,000,000 (UGX 2,500,000 on 6 January 2021 and UGX 42,500,000 on 8 January 2021). A power of attorney was executed on 2 November 2021 authorizing Kabagambe Mathias to sue on behalf of the plaintiff.
Issues
- Whether the defendant is indebted to the plaintiff
- What remedies are available to the parties
- Whether the plaintiff has a cause of action against the defendant (preliminary objection)
Orders
- The defendant is indebted to the plaintiff in the sum of UGX 70,000,000.
- Special damages of UGX 70,000,000 awarded to the plaintiff.
- Interest on the principal sum at the rate of 2% per month (24% per annum) from date of filing suit to date of judgment.
- General damages of UGX 5,000,000 awarded to the plaintiff.
- Interest on the aggregate sum at 6% per annum from date of judgment till payment in full.
- Costs of the suit awarded to the plaintiff.
- Preliminary objection overruled.
Rules and key headnotes
Legislation cited (10)
Cases cited (8)
- Tororo Cement Co. Ltd v Frokina International Ltd (Supreme Court Civil Appeal No. 02 of 2001)
- W.M Kyambadde v Mpigi District Administration IIe84lHCB
- Damalie Byakusaaga Bisobye v Byakusaaga Bisobye Sebulime Bokoso & Anor (High Court Miscellaneous Application No. 1295 of 2023)
- Hadley v Baxendale (1854) 9 Exch 341
- Robert Cuossens v Attorney General (Supreme Court Civil Appeal No. 8 of 1999)
- Uganda Commercial Bank v Kigozi [2002] EA 305
- Jennifer Behange, Rwanyindo Aurelia, Paul Bagenzi v School Outfitter (U) Limited (Court of Appeal Civil Appeal No. 53 of 1999)
- Kinyera v The Management Committee of Laroo Building Primary School (High Court Civil Suit No. 099 of 2013)
Full judgment
The original judgment as reported. Read the original PDF before relying on any passage.