20200529 TZHC Dar es Salaam2

20200529 TZHC Dar es Salaam2

There was a valid loan agreement between the parties, the defendant breached the agreement by failing to repay after resignation, and the plaintiff is entitled to the outstanding loan balance, commercial interest, court interest, general damages, and costs as prayed.

Source-derived case information.

Citation
20200529 TZHC Dar es Salaam2
Parties
Plaintiff: NMB Bank PLC; Defendant: Andrew Keneth Shango
Court
TZHC
Jurisdiction
Tanzania
Judgment Date
29 May 2020
Procedural Posture
Civil Case / Ex Parte Judgment After Defendant Failed to Appear
Outcome
Judgment for the plaintiff
Legal Topics
Loan Agreement, Breach of Contract, Interest Rate Adjustment, Employee Loans
Source Language
english
Contract Law Banking Law Loan Agreement Breach of Contract Interest Rate Adjustment Employee Loans

Source-derived case record

Summary, issues, holding and outcome

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Parties

NMB Bank PLC

Plaintiff

Andrew Keneth Shango

Defendant

Procedural Posture

Civil Case / Ex Parte Judgment After Defendant Failed to Appear

Legal Issues

  1. 1 Whether there was a valid loan agreement between the parties
  2. 2 Whether the defendant breached the loan agreement
  3. 3 What reliefs the parties are entitled to

Ratio Decidendi

There was a valid loan agreement between the parties, the defendant breached the agreement by failing to repay after resignation, and the plaintiff is entitled to the outstanding loan balance, commercial interest, court interest, general damages, and costs as prayed.

Court Disposition

Judgment for the plaintiff

Orders

  • Defendant to pay Tshs. 54,432,536.86 being principal and interest of the loan
  • Defendant to pay commercial interest at 23% per annum from date of filing to date of judgment