Rehema Nakibuuka v Bank of Baroda (High Court Civil Suit No. 1492 of 1999)
Observed later treatment
No later-treatment classification is recorded for this judgment.
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Holding
The High Court held that a bank fundamentally breached a mortgage and guarantee agreement by using the security to cover an existing overdraft rather than a future facility, by releasing funds to a different entity than the named borrower, and by failing to recall the facility within the agreed timeframe. The plaintiff was discharged from all obligations under the mortgage and guarantee. Where a bank's conduct transforms the contract into something materially different from what the guarantor agreed to, the guarantor is entitled to avoid the contract.
Outcome
Plaintiff discharged from mortgage and guarantee obligations; certificate of title to be returned with mortgage discharged; damages and costs awarded to plaintiff
Facts
In 1998, Rehema Nakibuuka mortgaged her land and gave a personal guarantee to Bank of Baroda to enable Kumar Sports Ltd to obtain an overdraft of UGX 40 million for one year. The arrangement was facilitated by the bank's Chief Manager, Patil. After the borrower defaulted, the bank demanded payment from Nakibuuka. Upon examining the documents, Nakibuuka discovered that the bank had released over UGX 70 million (not the agreed UGX 40 million), had used the security to cover an existing overdraft rather than releasing a new facility, had dealt with Kumar Sports and Kumar Sports (U) Ltd instead of Kumar Sports Ltd, and had allowed the facility to continue beyond the agreed one-year period. The bank counter-claimed for UGX 93,785,375 plus interest at 24% per annum from 1 September 1999.
Issues
- Whether the plaintiff is discharged from the obligations created under the mortgage and the guarantee and ought not to pay the overdraft in question by reason of the defendant's conduct as set out in the plaint.
- Whether the plaintiff is liable to the defendant in the sum claimed in the counter-claim.
- What remedies are available to the plaintiff.
Orders
- Court hereby discharges the plaintiff in respect of the mortgage (Exh. P1) and the guarantee (Exh. P2).
- Court declares that the plaintiff is not liable to the defendant under the mortgage (Exh. P1) and the guarantee (Exh. P2).
- The defendant must return to the plaintiff the certificate of title for the suit premises when the said certificate has been fully discharged in respect of the mortgage (Exh. P1).
- The defendant shall pay the plaintiff the sum of shillings 2,000,000 as general damages.
- The defendant shall bear the costs of the suit.
Rules and key headnotes
Legislation cited (1)
- Civil Procedure Act Cap.71 s.27(1)
Cases cited (1)
- Karsales (Harrow) Ltd v Wallis [1956] 2 All ER 866
Full judgment
The original judgment as reported. Read the original PDF before relying on any passage.