nbc vs matunda building contractors 5 others 2005 tzhccomd 21 17 may 2005

nbc vs matunda building contractors 5 others 2005 tzhccomd 21 17 may 2005

The plaintiff is entitled to judgment for the outstanding balance after deducting the amounts of three unproven entries (17th November 2001, 12th February 2004, 6th May 2004) and compound interest thereon at 26%. The remaining balance is subject to 25% interest per annum from the date of filing to judgment, and 7% per annum thereafter until settlement. The plaintiff failed to prove entitlement to the full claimed amount due to lack of supporting evidence for the contested entries.

Citation
nbc vs matunda building contractors 5 others 2005 tzhccomd 21 17 may 2005
Parties
Plaintiff: National Bank of Commerce; 1st Defendant: Matunda Building Contractors; 2nd Defendant: Severian Ndyetabula; 3rd Defendant: Valence Simon Matunda; 4th Defendant: Gresha Valence Matunda; 5th Defendant: Flora Matunda; 6th Defendant: Jacqueline Valence Matunda
Court
TZHCCOMD
Jurisdiction
Tanzania
Judgment Date
17 May 2005
Procedural Posture
Commercial Case / Judgment
Outcome
Partly allowed for the plaintiff
Legal Topics
Overdraft Facility, Loan Repayment, Guarantee, Mortgage, Interest Calculation
Source Language
English
Banking Law Contract Law Overdraft Facility Loan Repayment Guarantee Mortgage Interest Calculation

Case Brief

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Parties

National Bank of Commerce

Plaintiff

Matunda Building Contractors

1st Defendant

Severian Ndyetabula

2nd Defendant

Valence Simon Matunda

3rd Defendant

Gresha Valence Matunda

4th Defendant

Flora Matunda

5th Defendant

Jacqueline Valence Matunda

6th Defendant

Procedural Posture

Commercial Case / Judgment

Legal Issues

  1. 1 Whether the defendants are indebted to the plaintiff for T.shs 291,609,456.63 or any other sum
  2. 2 To what reliefs are the parties entitled

Ratio Decidendi

The plaintiff is entitled to judgment for the outstanding balance after deducting the amounts of three unproven entries (17th November 2001, 12th February 2004, 6th May 2004) and compound interest thereon at 26%. The remaining balance is subject to 25% interest per annum from the date of filing to judgment, and 7% per annum thereafter until settlement. The plaintiff failed to prove entitlement to the full claimed amount due to lack of supporting evidence for the contested entries.

Court Disposition

Partly allowed for the plaintiff

Orders

  • Judgment for the plaintiff for the balance after deducting the three contested entries and 26% compound interest thereon
  • Interest at 25% per annum on the balance from the date of filing to judgment