Tibiri v Tropical Bank Limited & Another
Tibiri v Tropical Bank Limited & Another (Civil Suit 487 of 2022) [2024] UGCommC 304 (3 September 2024)
The court found that the 2nd Defendant did not default on the loan facility, as the bank statement (PE 3) reflected full payment, including the large deposit by Nanyunja Zahara, and no evidence was adduced by the 1st Defendant to prove reversal of the transaction or continued indebtedness. Consequently, the Plaintiff, as guarantor, was discharged from liability, and the 1st Defendant's continued retention of the Plaintiff's land title was unjustified. The Plaintiff was entitled to the release of her certificate of title, general damages for inconvenience, and costs of the suit. The court decl…
Source excerpt
- Third Party Mortgage
- Guarantee Liability
- Loan Default
- Release Of Security
- Banking Errors