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Timber Manufacturers Ltd v. Joseph Kiarie Mbugua & Consolidated Bank of Kenya

(2005) JELR 96596 (CA)

Court of Appeal  •  Civil Appli NAI 159 of 2005  •  15 Jul 2005  •  Kenya

Coram
Philip Kiptoo Tunoi, Philip Nyamu Waki, Erastus Mwaniki Githinji

Judgement

RULING OF THE COURT

This is an application under Rule 5 (2) (b) of the Rules of this Court essentially seeking a stay of execution of the judgment of the superior court on the counter – claim wherein the superior court gave judgment against the applicant for the surrender of title documents for L.R. No. 4894/59 to Consolidated Bank of Kenya, second respondent herein.

By an agreement of sale dated 6th October, 1996, Joseph Kiarie Mbugua (first respondent) agreed to sell L.R. No. 4894/59 comprising of 5.04 acres situated at Garden Estate, Nairobi to Timber Manufacturers and Dealers Ltd. (applicant) for a consideration of Shs.4,000,000/=. The applicant had paid Shs.1,000,000/= by the date of the agreement. The balance of the purchase price was to be paid by two further instalments, viz a payment of the second instalment of Shs.1,000,000/= on or before 31st August, 1990 and the balance of Shs.2,000,000/= to be paid on the registration of documents of title but to be deposited with the first…

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