STEDCON RWANDA v. ACCESS BANK
The Supreme Court held that ACCESS BANK did not breach any duty by paying the cheque, as it was signed by lawful signatories with equal rights on the account, and there was no evidence of fraud, bad faith, duress, or breach of trust. The contractual policy requiring confirmation could not override the equal rights of signatories unless both agreed. STEDCON's claim was baseless, and damages and fees were awarded to ACCESS BANK.
Source excerpt
- Negotiable instruments
- Cheque payment
- Banking obligations
- Damages
- Contractual interpretation