MUJAWAMARIYA NUNDI v ECOMEM CO LTD
The High Court found that both Mujawamariya Devota and AMFM are jointly liable for the debt and damages arising from the dishonoured cheque, but reduced the awarded interest to match the principal loan agreement, holding that interest must not exceed the principal. The lower court's use of a repealed law was noted but did not affect the outcome. Moral damages were denied due to lack of prior claim. Costs were partially awarded to the appellants.
Source excerpt
- Loan agreements
- Dishonoured cheque
- Damages
- Interest calculation
- Joint liability