africhick hatchers ltd vs crdb babk plc 2019 tzca 149 15 march 2019
An encumbered property, regardless of its value, cannot stand as good security for the due performance of a decree in an application for stay of execution; security must be independent and free from any encumbrance.
- Citation
- africhick hatchers ltd vs crdb babk plc 2019 tzca 149 15 march 2019
- Parties
- Applicant: Africhick Hatchers Limited; Respondent: CRDB Bank PLC
- Court
- TZCA
- Jurisdiction
- Tanzania
- Judgment Date
- 15 March 2019
- Procedural Posture
- Civil Application / Dissenting Ruling on Application for Stay of Execution
- Outcome
- Would have granted the application conditionally, dissenting from the majority.
- Legal Topics
- Stay of Execution, Security for Due Performance, Mortgaged Property as Security
- Source Language
- English
Case Brief
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Parties
Africhick Hatchers Limited
Applicant
CRDB Bank PLC
Respondent
Procedural Posture
Civil Application / Dissenting Ruling on Application for Stay of Execution
Legal Issues
- 1 Whether an encumbered property can stand as security for due performance of a decree in an application for stay of execution
Ratio Decidendi
An encumbered property, regardless of its value, cannot stand as good security for the due performance of a decree in an application for stay of execution; security must be independent and free from any encumbrance.
Court Disposition
Would have granted the application conditionally, dissenting from the majority.
Orders
- Applicant to furnish a bank guarantee for the decretal sum within thirty days of delivery of ruling.
- Stay order conditional upon furnishing such bank guarantee.
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