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Middle East Bank Kenya Limited v. Thalia Katia Maria Castanha

(2016) JELR 99081 (CA)

Court of Appeal  •  Civil Appeal 20 of 2016  •  30 Sep 2016  •  Kenya

Coram
Milton Stephen Asike Makhandia, William Ouko, Kathurima M'inoti

Judgement

JUDGMENT OF THE COURT

By an advertisement carried in a local daily, the Daily Nation on 27th January, 2006, the appellant advertised all that piece or parcel of land known as L.R MN 1581/I/MN (the suit premises) for sale by public auction through the firm of Thaara Auctioneers (the auctioneers) in the exercise of statutory power of sale. Following a successful bid at the auction on 24th February, 2006, the respondent was declared the highest bidder at Kshs.9 Million, pursuant to which she paid a deposit of Kshs.2,250,000/- being 25% of the bid price. A sale agreement was executed on the same day, between the respondent and the auctioneer. It was a term of the said agreement that the balance of the purchase price would be paid within sixty (60) days of the date of the agreement. However, this was not to be; for just after the payment of the deposit and execution of the agreement, the respondent learnt of a suit filed against the appellant by a third party, over the suit premises; the sa…

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