Sketchway Limited v Lutaaya George William (Civil Suit No. 102 of 2024)
Observed later treatment
No later-treatment classification is recorded for this judgment.
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Holding
The court held that the loan agreement was valid and the defendant breached it by failing to repay within the stipulated period. The contractual interest rate of 10% per month plus 0.5% daily surcharge was found unconscionable and reduced to 20% per annum. The mortgage over the suit property was declared invalid because the defendant had previously sold the land to a third party in 2021 and therefore lacked authority to mortgage it in 2023. The defendant was ordered to pay the outstanding principal balance with interest at 20% per annum and general damages.
Outcome
Judgment entered for the plaintiff for UGX 165,000,000 principal plus interest at 20% per annum and general damages of UGX 20,000,000. Prayers for eviction and sale of mortgaged properties dismissed as the mortgage was found invalid.
Facts
On 2 August 2023, the defendant borrowed UGX 250,000,000 from the plaintiff at 10% interest per month, repayable within four months. To secure the loan, the defendant mortgaged properties comprised in Kibuga Block 23 plots 498 and 510 at Busega with spousal consent. The defendant defaulted on repayment. The plaintiff issued default notices and advertised the properties for sale. The defendant admitted liability but disputed the interest calculation and claimed the mortgage was procured under duress. Evidence revealed that the defendant had previously sold the suit property to a third party on 8 May 2021 under an installment sale agreement. The defendant made partial payments totalling UGX 85,000,000 before and during the suit.
Issues
- Whether the loan agreement is valid and whether the defendant breached it.
- Whether the interest charged by the plaintiff is unconscionable.
- Whether the defendant mortgaged properties comprised in Kibuga Block 23 plots 498 and 510 to secure the loan.
- What remedies are available to the parties.
Orders
- The defendant shall pay to the plaintiff the sum of UGX 165,000,000/- being the balance of the money advanced under the loan agreement.
- Interest is awarded on the above sum at a rate of 20% per annum from the date of filing this suit until payment in full.
- The plaintiff is awarded general damages of UGX 20,000,000/-.
- The plaintiff is awarded the costs of the suit.
Rules and key headnotes
Legislation cited (3)
Cases cited (8)
- Greenboat Entertainment Ltd v City Council of Kampala (Civil Suit No. 580 of 2003)
- L'Estrange v Graucob Ltd [1934] 2 KB 394
- Derrick Munywevu & Another v Maersk Agency Uganda Limited (Civil Suit No. 528 of 2021)
- JAS Ventures International Limited v Atuhaire Juliet (Civil Suit No. 76 of 2021)
- Dr. Maj. Rtd Anthony Jallon Okullo v Attorney General (Civil Appeal No. 3 of 2020)
- Jomayi Property Consultants Limited v Henry K Tumukunde (Miscellaneous Application No. 1517 of 2021)
- Stroms v Hutchinson [1905] AC 515
- Hadley v Baxendale (1854) 9 Exch 341
Full judgment
The original judgment as reported. Read the original PDF before relying on any passage.