<p class="ql-align-center">RULING OF THE COURT</p><p class="ql-align-justify">By a charge dated 12th September, 1984 registered in the Land Titles Registry at Nairobi as Number I.R. 29214/4 (the charge), the second applicant, Francis Mbugua Mwihia, charged his piece of land known as Land Reference Number 12144/6 together with buildings and improvements thereon in favour of the 1st respondent for better securing to the 1st respondent repayment of an aggregate sum not exceeding Shs.700,000/=, to which extent the 1st respondent at the request of the 2nd applicant agreed to permit the 1st applicant to overdraw its account with the 1st respondent, subject to the terms and conditions of the charge.</p><p class="ql-align-justify">It is a common ground that in the same year the 2nd applicant also charged another parcel of land belonging to him known as Nairobi/Block/273 in favour of the 1st respondent to secure repayment of two other loan accounts. By a mutual agreement between the applicants and the 1st respondent all the loan accounts of the 1st applicant were amalgamated into a …</p>