EQUITY BANK RWANDA PLC v. BES & SUPPLY LTD N’UNDI
The Supreme Court found no evidence that the original debt of 217,000,000 Frw secured by the mortgage was repaid. The bank's account history showed the debt remained outstanding, and the respondent failed to prove repayment. The mortgage agreement therefore remains valid until the debt is fully paid, regardless of the expiry date in the mortgage contract or subsequent agreements. The request to cancel the mortgage was denied, and the respondent was ordered to pay legal costs.
Source excerpt
- Mortgage agreements
- Secured transactions
- Bank loans
- Collateral enforcement
- Judicial review
- Burden of proof