JUDGEMENT OF THE COURT
1. The appellant, Kakamega Paper Converters Limited, is a company incorporated in Kenya with its registered office at Kakamega from where it has carried on the business of manufacturing and sale of exercise books for many years. Intending to sell that business as a going concern alongside the premises where its factory is located, namely land parcel numbers Kakamega Town/Block 1/ 242, 243 and 244 (the land), it entered into an agreement for sale dated 26th July 2010 (the first agreement) with Mohanlal Arora, his wife Sushila Mohanlal Arora (hereafter “the 1st and 2nd respondents” or “the Arora’s”) and one Paspulati Jayasurvya Sunil Raj, who was the 3rd defendant in the lower court (hereafter “Raj”).
2. Under that agreement, the Arora’s and Raj agreed to purchase the appellant’s business, its factory together with the three parcels of land on which it is located, as well as the buildings, plant and machinery, the raw material, stock and finished products for a pric…