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Karamshi & Company Limited v. Credit and Commerce Finance Limited

(1996) JELR 100243 (CA)

Court of Appeal  •  Civil Appeal 111 of 1994  •  8 Nov 1996  •  Kenya

Coram
Gurbachan Singh Pall, Philip Kiptoo Tunoi, Richard Otieno Kwach

Judgement

JUDGMENT OF THE COURT

This appeal arises in the following circumstances. On or about 23rd May, 1989 Karamshi and Company Ltd (the appellant) bought goods worth 348,500/= from Imara Import and Export (K) Ltd (Imara). In payment for the goods the appellant made two promissory notes the first one dated 23rd May, 1989 promising to pay Shs.200,000/= 120 days after date to Imara or order and the second one dated 6th June, 1989 promising to pay 148,500/- 120 days after date to Imara or order. Imara endorsed the said promissory notes before the maturity date in blank and delivered them to Credit and Commerce Finance Ltd (the respondent). The respondent accepted and discounted the said promissory notes at the request of Imara.

Criminal Investigation Department (C.I.D) collected the said goods from the appellant as they were suspected to be stolen goods. However C.I.D. closed their investigations in due course and decided to take no further action in the matter and returned the goods to Imara alt…

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