Prompt Facilities Limited v Isagara and Another (Civil Suit No. 214 of 2016)
Observed later treatment
No later-treatment classification is recorded for this judgment.
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Holding
The court held that the 1st Defendant had not fully repaid two loans totalling UGX 969,500,000. Of the UGX 1,270,000,000 the defendant claimed to have paid, only UGX 600,000,000 was attributable to the loans in suit; the remainder was paid toward other debts including building materials and loans from a third party. The principal balance of UGX 369,500,000 plus contractual interest of UGX 118,240,000 remained unpaid. The 2nd Defendant, as guarantor, was held jointly and severally liable. Judgment was entered for UGX 487,740,000 plus interest at 24% per annum from 6 April 2016.
Outcome
Judgment entered for the Plaintiff; Defendants jointly and severally liable to pay UGX 487,740,000 plus interest and costs
Facts
The 1st Defendant, managing director of Kwik Build Contractors Ltd, borrowed UGX 940,000,000 from the Plaintiff on 18 November 2014 and a further UGX 29,500,000 on 8 January 2015, totalling UGX 969,500,000. The loans were secured by a land title and a motor grader log book, and guaranteed by the 2nd Defendant. The loans attracted 2% monthly interest. The 1st Defendant made various payments totalling UGX 1,270,000,000 between May and December 2015, which he claimed fully discharged the debt. The Plaintiff contended that only UGX 600,000,000 was paid toward the loans in suit; the remainder was paid toward other debts including building materials supplied by the Plaintiff and loans from Asimori Money Lenders Ltd. The Plaintiff claimed UGX 487,740,000 comprising unpaid principal of UGX 369,500,000 and interest of UGX 118,240,000.
Issues
- Whether the 1st Defendant breached the loan agreement made with the Plaintiff.
- Whether the Defendants are jointly and severally liable to the Plaintiff.
- What remedies are available?
Orders
- Judgment entered in favour of the Plaintiff against both Defendants jointly and severally.
- The Defendants to pay UGX 487,740,000.
- Interest at 24% per annum from 6 April 2016 till payment in full.
- Costs of the suit awarded to the Plaintiff.
Rules and key headnotes
Cases cited (2)
- Uganda Revenue Authority v Stephen Mobosi (Supreme Court Civil Appeal No. 16 of 1995)
- Superior Construction Ltd v Notay Engineering Ltd (High Court Civil Suit No. 24 of 1992)
Full judgment
The original judgment as reported. Read the original PDF before relying on any passage.