MIC TANZANIA LIMITED VS. COMMERCIAL BANK OF AFRICA {T)LTD.

Abstract

The respondent (COMMERCIAL BANK OF AFRICA {T) LTD) sued the appellant (MIC TANZANIA LIMITED) for payment of the outstanding amount of Tshs.130,467,434/= plus interest being the sum of personal loans which were not repaid by the appellant's employees. In her plaint, the respondent alleged that, sometimes in November, 2007 they entered into an agreement with the appellant who undertook to channel to the Bank (the respondent), monthly salaries of the employees who were to be provided with personal loans by the respondent Bank.