George William Semivule v Barclays Bank of Uganda (HCT-00-CC-MA 267 of 2008)
Observed later treatment
No later-treatment classification is recorded for this judgment.
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Holding
The court granted the applicant unconditional leave to defend. Although on-demand guarantees are generally payable on demand without proof or conditions (save for clear fraud), the position changes when such guarantees are given together with a mortgage. Section 16 of the Mortgage Act provides that obligations under any agreement collateral to a mortgage shall be no greater than the obligations of the mortgagor under the mortgage. Without the mortgage deed being produced, it was not possible to determine the extent of obligations by way of summary suit, thus establishing a triable issue.
Outcome
Applicant granted unconditional leave to defend the main suit
Facts
Barclays Bank of Uganda brought a summary suit against three defendants including George William Semivule to recover UGX 1,743,864,285 on the strength of personal guarantees executed by the defendants. The loan was secured by a mortgage over property comprising a school owned by Berkerley Educational Enterprises Ltd. The parties had attempted to jointly sell the school to recover the debt but failed, prompting the bank to enforce the personal guarantees. Semivule applied for unconditional leave to defend, arguing that the bank had not exhausted recovery measures against him, that the transaction was tainted with illegality, that the wrong interest rate had been applied, and that the school's assets were sufficient to cover the debt. The bank argued that Semivule had signed a classic on-demand guarantee payable on written demand.
Issues
- Whether the applicant should be granted unconditional leave to defend the summary suit.
- Whether an on-demand guarantee given together with a mortgage is subject to the limitations in section 16 of the Mortgage Act.
- Whether the obligations under the personal guarantee are governed by the Mortgage Act where the guarantee is collateral to a mortgage.
Orders
- Application for unconditional leave to defend is granted.
- Applicant may file defence within 14 days of this ruling.
- Costs in the cause.
Rules and key headnotes
Legislation cited (3)
Cases cited (5)
- Makulu International Ltd v Cardinal Nsubuga & Another (Civil Appeal No. 4 of 1981)
- Zola & Another V Ralli Brothers Ltd & Anor [1969] EA 691 (CA)
- Maluku Interglobal V Bank of Uganda [1985] HCB 65
- Kundalal Resturant V Deushi & Co. [1952] EACA 77
- Edward Owen Engineering Ltd V Barclays Bank International Ltd [1978] 1 Q.B 159 or 1978] 1 Lloyds Rep 166
Full judgment
The original judgment as reported. Read the original PDF before relying on any passage.