Gossert Mutagaywa Vs. Jamila Kassim Ramadhani Kizenga, Mwamvita Kassim Ramadhani Kizenga and Radhia Kassim Ramadhani Kizenga Commercial Case No. 162 of 2014.
Date
2015
Authors
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Publisher
High Court of Dar es salaam- Tanzania
Abstract
The plaintiff, a natural person, instituted this suit against the defendants jointly and severally for breach of contract, and particularly for the defendants' failure to repay the loan of Tshs. 100,000,000/= which the plaintiff had advanced to them on the 04.01.2014. It is stated in the plaint that repayment was agreed to be done within six months in lump sum and without interest. It is stated further that, as security, the defendants offered their rights of occupancy over their landed properties. The said amount of money advanced as a loan was deposited into the defendants' bank account bearing the name M/S B.A.K Trading Co. Ltd at Stannic Bank, Kariakooo Branch on 06.01.02014. This suit was filed after the defendants had failed to repay the loan within the agreed time.
Description
Keywords
Commercial Jurisdiction, Commercial Significance, Loan Agreement, Interest-Free Loan, Contractual Obligations, Preliminary Objection.