20141105 TZHC Dar es Salaam

20141105 TZHC Dar es Salaam

There was no loan agreement between the plaintiff and the 1st defendant, only an application. The plaintiff failed to fulfill the conditions precedent for the loan, particularly provision of security. No breach of contract occurred as no contract existed between the parties. Plaintiff is not entitled to any relief.

Citation
20141105 TZHC Dar es Salaam
Parties
Plaintiff: Abdallah Salimu Maganga; 1st Defendant: The Board of Trustees of the Agricultural Inputs Trust Fund; 2nd Defendant: International Commercial Bank (Tanzania) Limited
Court
TZHC
Jurisdiction
Tanzania
Judgment Date
5 November 2014
Procedural Posture
Civil / Judgment
Outcome
Suit dismissed
Legal Topics
Loan Agreements, Specific Performance, Breach of Contract, Damages
Source Language
English
Contract Law Banking Law Loan Agreements Specific Performance Breach of Contract Damages

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Parties

Abdallah Salimu Maganga

Plaintiff

The Board of Trustees of the Agricultural Inputs Trust Fund

1st Defendant

International Commercial Bank (Tanzania) Limited

2nd Defendant

Procedural Posture

Civil / Judgment

Legal Issues

  1. 1 Whether there was a loan agreement between the plaintiff and 1st defendant
  2. 2 Whether the 2nd defendant was bound by any such agreement
  3. 3 Whether the 2nd defendant had mandate to approve the loan

Ratio Decidendi

There was no loan agreement between the plaintiff and the 1st defendant, only an application. The plaintiff failed to fulfill the conditions precedent for the loan, particularly provision of security. No breach of contract occurred as no contract existed between the parties. Plaintiff is not entitled to any relief.

Court Disposition

Suit dismissed

Orders

  • Each party to bear its own costs