jeremy woods another vs robert choudry another 2007 tzhc 320 16 november 2007

The Defendants received USD 200,000 from the Plaintiffs for investment and shareholding in a new company but failed to allot the agreed shares or issue share certificates, constituting a breach of the implied terms of the agreement. The Plaintiffs are entitled to a refund of the investment less amounts already received.

Citation: jeremy woods another vs robert choudry another 2007 tzhc 320 16 november 2007
Parties: Plaintiff: Jeremy Woods; Plaintiff: Cameron Woods; Defendant: Robert Choudry; Defendant: Cullinan Cut & Polish Ltd
Court: TZHC
Jurisdiction: Tanzania
Judgment Date: 16 November 2007
Procedural Posture: Commercial Case / Judgment
Outcome: Judgment for the Plaintiffs
Legal Topics: Breach of Contract, Shareholding, Investment Disputes, Company Law, Damages
Source Language: English

Contract Law Commercial Law Breach of Contract Shareholding Investment Disputes Company Law Damages

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Parties

Jeremy Woods

Plaintiff

Cameron Woods

Plaintiff

Robert Choudry

Defendant

Cullinan Cut & Polish Ltd

Defendant

Procedural Posture

Commercial Case / Judgment

Legal Issues

1 Whether the Defendants owe USD 200,000 to the Plaintiffs and on what account
2 What were the terms of the agreement under which the money was advanced
3 Whether any of the terms of the agreement was breached by any of the parties

Ratio Decidendi

Court Disposition

Judgment for the Plaintiffs

Orders

Defendants to refund USD 187,500 to the Plaintiffs (USD 200,000 less USD 12,500 already received)
USD 187,500 to attract interest at 21% per annum from 15/9/2006 to date of judgment