christopher paul chale others vs commercial bank of africa tanzania limited 2023 tzca 17610 8 september 2023
The respondent bank was justified in debiting and remitting the funds due to exceptional circumstances including suspicion of money laundering, instructions from authorities, and demand from the sender; the second and third appellants were discharged from liability for subsequent advances as they did not consent to the variations or execute a deed of variation; only the first appellant remains liable for the outstanding amount under the third credit agreement.
Source excerpt
- Bank's right to debit account
- Guarantee and suretyship
- Mortgage liability
- Novation of contract
- Variation of contract
- Receiver appointment