STEDCON RWANDA v. ACCESS BANK
The Supreme Court held that since the cheque was signed by authorized persons and STEDCON RWANDA Ltd did not prove fraud, duress, or lack of authority, ACCESS BANK RWANDA Ltd was not at fault in paying the cheque. The bank was not notified that one signatory lacked authority, and the internal policy did not override the mandate without proper notification. The appeal lacked merit.
Source excerpt
- Negotiable instruments
- Cheque payment
- Bank liability
- Fraud prevention