Lalji v Ahmed (C.A. 14/1933.)
Lalji v Ahmed (C.A. 14/1933.) [1933] EACA 2 (1 January 1933)
The Court of Appeal held that the respondent was not a 'debtor' within the meaning of the Deeds of Arrangement Ordinance as construed by reference to the Bankruptcy Ordinance, 1930, and therefore the deed did not require registration in Kenya. The arrangement did not operate as a release of the original debts until payment of the composition was made, and the right of action on the promissory notes was suspended, not extinguished. The respondent's failure to procure and tender the promissory notes as stipulated in the deed entitled the appellant to revive his original cause of action. The exi…
Source excerpt
- Deeds Of Arrangement
- Novation
- Bankruptcy Definition
- Registration Requirements
- Fraudulent Preference
- Composition With Creditors